SoftBank-backed Karrot, South Korea's largest online second-hand marketplace, closed a new $162 million round of funding, valuing the company at $2.7 billion, joining a growing list of unicorns in South Korea that are eyeing global expansion.

According to co-founder Gary Kim, the investment came from new investors, including Yuri Milner's outfit and Aspex Management. Existing investors such as Altos Ventures and Goodwater Capital also participated.

South Korea has been minting unicorns and self-made billionaires at a faster rate than ever this year, breaking away from the family-controlled conglomerates that have traditionally led the country's economy.

Like other Korean startups such as Coupang and Krafton, Karrot is preparing to expand internationally in search of larger markets. Gary Kim said that the new funding will finance Karrot's talent acquisition and overseas expansion plans for the next 18 months to two years. The 200-employee startup is planning to hire 100 recruits this year.

The Korean e-commerce market has been growing rapidly due to the Covid-19 epidemic. Founded in 2015, Karrot has become Korea's largest trading platform for second-hand goods and the second-largest e-commerce platform in the country.