New Paradigm Investment announced on the 27th that it has made a seed investment in the startup First Funeral Company, which operates the online funeral platform "First Funeral." The amount of the investment is undisclosed.
First Funeral Company operates the online funeral platform service "First Funeral," providing services for searching, comparing, and facilitating the transaction of burial sites, as well as the transfer of funeral niches and subscription services for burial sites. Users can search for burial sites according to region, budget, and facility conditions, check actual transaction prices, facility photos, and location information, and then contract through a secure payment system.
Jang Won-bong, the CEO of First Funeral Company, has a background as a former manager at Kyowon Life and experience in major domestic funeral service companies, as well as in the IT service sector. Key members also have experience in service planning, marketing, operations, and law.
Park Je-hun, the CEO of New Paradigm Investment, noted that "First Funeral Company is a specialized team that addresses the funeral and burial issues faced by the ultra-aged society digitally," explaining the background of the investment by stating, "The business model encompasses both market potential and social and environmental value, showcasing sufficient capability for global expansion."