About Mashup Angels
Mashup Angels, established in 2013, is an angel investment group based in Seoul, South Korea. It primarily focuses on Seed investments in companies in South Korea. Its portfolio includes 17 firms, spanning the Enterprise Applications, Retail sectors. Its most notable investments include companies like Finda, H2O Hospitality and Maccaron. As of Aug 2026, Mashup Angels has witnessed 1 portfolio exit. Its latest investment was a $2M Seed round in Seoul Beauty Club on Dec 09, 2025, which also saw participation from Hustle Fund and Collab Fund.
To date, 18 investors have co-invested in Mashup Angels's portfolio companies, including prominent names like 500 Global.
Key Metrics
Founded Year
2013
Location
Seoul, South Korea
Portfolio Companies
Sectors of Investment
Stages of Investment
Seed
Locations of Investment
Mashup Angels' List of Top Investments
Mashup Angels has a portfolio of 17 companies. Their most notable investments are in Maccaron and Corkbear.Their portfolio spans across South Korea, United States, India and 1 more locations. They have invested in Enterprise Applications, Retail, High Tech and 8 other sectors, across stages such as Seed stage. Here is the list of top investments by Mashup Angels:
1. Finda
Online platform offering financial products comparison solutions. It lets user to compare loans, credit cards, saving accounts, and more.
Key facts about Finda
- Founded Year: 2016
- Location: Seoul (South Korea)
- Stage: Series C
- Total Funding till date: $52.8M
- Employee Count: 81 as on Jul 31, 2026
- Investors: Kia, InterVest and 12 Others
- Latest Funding Round: Series C, Jul 21, 2023, $*****
- Highlight: Editors' Pick
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Key facts about H2O Hospitality
- Founded Year: 2015
- Location: Seoul (South Korea)
- Stage: Series C
- Total Funding till date: $39.5M
- Employee Count: 33 as on Mar 31, 2026
- Investors: ES Investor, Shinhan Financial Group and 17 Others
- Latest Funding Round: Series C, Sep 07, 2021, $*****
3. Maccaron
Online retailer offering multi-category K beauty products. The product catalog includes skin care products, make-up, hair care products, body care products, personal care products, and more.
Key facts about Maccaron
- Founded Year: 2019
- Location: Gurugram (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Stage: Series A
- Total Funding till date: $3.15M
- Employee Count: 52 as on Jul 31, 2026
- Investors: Company K Partners, Schmidt and 2 Others
- Latest Funding Round: Series A, Jul 14, 2023, $*****
4. Quotabook
Cloud-based equity management solutions for businesses. It provides tools to connect startups and investors that help to manage documents, funds, cap tables, investments, stakeholders, equity plans, stock options, and more. It also provides solutions to track and monitor funding and securities.
Key facts about Quotabook
- Founded Year: 2019
- Location: Seoul (South Korea)
- Stage: Series A
- Total Funding till date: $20M
- Employee Count: 15 as on May 31, 2026
- Investors: Elefund, Goodwater Capital and 26 Others
- Latest Funding Round: Series A, Aug 17, 2022, $*****
- Highlight: Editors' Pick
5. Kasa
Key facts about Kasa
- Founded Year: 2018
- Location: Seoul (South Korea)
- Stage: Acquired
- Total Funding till date: $32.6M
- Employee Count: 41 as on Jul 31, 2026
- Investors: NLVC, WeMade Entertainment and 16 Others
- Latest Funding Round: Series B, Dec 14, 2021, $*****
- Highlight: Acquired
Mashup Angels' Year-on-Year Investment Trends
Mashup Angels has invested in 17 companies over the last 13 years, with an average of 1 new investment annually in the last 10 years. In 2025, it made 1 investment. Its most recent first time investment was in Seoul Beauty Club and most recent follow-on round was in BeBridge.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 0 | 1 |
2024 | 1 | 0 | 1 |
2023 | 0 | 0 | 0 |
2022 | 1 | 0 | 1 |
2021 | 0 | 0 | 0 |
2020 | 1 | 0 | 1 |
2019 | 2 | 0 | 2 |
2018 | 1 | 0 | 1 |
2017 | 3 | 0 | 3 |
Mashup Angels' Investments by Stage
Mashup Angels has made 16 investments in Seed stage with an average round size of $1.59M.Mashup Angels' Investments by Sector
Mashup Angels has a diverse portfolio, with companies operating in the Consumer, Retail, Enterprise Applications, FinTech and HealthTech. Notably, it has invested in 14 Tech companies, 10 Consumer (B2C) companies, 6 Enterprise (B2B) companies and at least 6 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 6 |
Retail | 5 |
Enterprise Applications | 4 |
FinTech | 3 |
HealthTech | 2 |
Others | 5 |
Note: We have considered here, only first round of investments
Mashup Angels' Investments by Geography
Mashup Angels has made most investments in South Korea (13), followed by United States where it has made 2 investments.Country | No. of Investments |
|---|---|
South Korea | 13 |
United States | 2 |
India | 1 |
Note: We have considered here, only first round of investments
Mashup Angels' recent investments
Mashup Angels has not made any investment in 2026 so far.Here are the most recent investments by Mashup Angels:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 09, 2025 | United States | Seed | 4836 | [+3] | |
Jan 29, 2024 | South Korea | Seed | 9913 | - | |
May 2022 | South Korea | Seed | 3602 | - | |
Feb 2020 | South Korea | Seed | 1137 | - | |
Jul 30, 2019 | India | Seed | 2829 | - |
Acquired companies in Mashup Angels' Portfolio
1 company from Mashup Angels' portfolio has been acquired. The most recent acquisition was Kasa in Apr 2023 by Daishin Securities for $*****.Here are Mashup Angels' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 15, 2023 | Jul 2018 | Seed | 5003 |
Co-investors of Mashup Angels
Over the past 13 years, 81 investors have co-invested in Mashup Angels's portfolio companies. This includes funds and angels.
- Invested before Mashup Angels: Mega Investments and Venture Square have invested in rounds before Mashup Angels. There is 1 company where Mega Investments has invested before Mashup Angels and 1 company where Venture Square has invested before Mashup Angels.
- Top Co-investors of Mashup Angels: 18 investors entered a company along with Mashup Angels. These include investors like 500 Global (2 companies).
- Invested after Mashup Angels: A total of 61 investors have invested in Mashup Angels's portfolio after their investments. Top Investors include Strong Ventures (2 companies) and InterVest (2 companies).
Recent News related to Mashup Angels
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MyHub receives initial investment from Mashup AngelsVenture Square•Nov 29, 2023•Mashup Angels, Myhub
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Mashup Angels forms a new fund, ‘Mashup Angels Value Growth Venture Investment Association’Venture Square•Nov 07, 2023•Mashup Angels
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‘Fairy’, a CRM marketing solution company, selected as ‘Deep Tech-Tips’Venture Square•Aug 30, 2023•Fairy, Mashup Angels
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Online study assistant operator Bebridge receives $1.9 mn in pre-Series AKedglobal•Jul 21, 2022•BeBridge, Magna, BluePoint Partners, DT&Investment and 2 others
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Mashup Angels Invests in Medieval Healing Audio App, Lucid IslandPlatum•Jan 13, 2020•Mashup Angels, Two Labs
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WaHome scores US$1M in seed funding to clean more houses in KoreaYahoo•Nov 21, 2015•WaHome, SparkLabs Global Ventures, Mashup Angels, Fast Track Asia and 1 other
