Dazayo
A platform to find empty co-working or empty house spaces.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
KRW430m | Series A | ||
| Total Funding | 000k | ||
Dazayo, founded in 2015 by CEO Nam Seong-jun, is a South Korean company specializing in urban regeneration and home-sharing services. The company is headquartered in Jeju and was established with the mission to revitalize vacant or abandoned houses, particularly in rural villages. Nam Seong-jun's background includes working at a bank and running his own bar for about a decade, experiences that allowed him to understand customer needs firsthand and inspired the concept behind Dazayo. He identified a demand from travelers, especially in Jeju, for accommodations that offer modern comforts and privacy while preserving the local aesthetic.
The core of Dazayo's business is its "empty house project." The company leases empty houses, often for free, and remodels them into private lodging facilities. This approach not only provides unique stays for travelers but also contributes to solving social issues associated with abandoned properties, such as security and urban aesthetics, thereby regenerating the local economy and culture. The business model involves operating these renovated properties as guest houses and co-working spaces. One of their notable projects is the "Gosan Dodle House" in Jeju, a two-bedroom villa. Dazayo has also collaborated with furniture company Iloom and actor Ryu Seung-ryong on revitalization projects, transforming old stone houses into desirable accommodations.
Since its founding, Dazayo has achieved several milestones. It was selected for an accelerator program in 2018 and has successfully raised funds through multiple rounds, including seed funding, equity crowdfunding, and venture capital. The company has secured approximately $169K in funding from investors such as Enlight Ventures, Industrial Bank of Korea, and Y&Archer. By 2020, it had received special regulatory designation for its business model and by 2021 had secured further investments to expand its operations.
Keywords: Dazayo, urban regeneration, home-sharing, South Korea, Jeju, property revitalization, empty house project, rural tourism, travel accommodation, real estate technology, social enterprise, Nam Seong-jun, co-working spaces, private lodging, cultural preservation, local economy, venture capital, real estate services, hospitality, stone house renovation