Korea

South Korean P2P Lender PeopleFund Raises US$20 Million Led by Bain Capital

South Korean peer-to-peer (P2P) lending platform PeopleFund announced that it has raised an additional US$20 million led by existing investor Bain Capital. The round, which was open only to its existing investors, was joined by Access Ventures, CLSA Capital Partners

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Korean Super App Toss Valued at US$7 Billion With Latest Series G Fundraise

Toss, a South Korean super app operated by fintech startup Viva Republica, announced that it has raised a US$405 million Series G funding round and is now valued at US$$7 billion, according to a report by TechCrunch. This is the

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Samsung Ramps up Fintech Play

South Korean computers and electronics manufacturer Samsung is ramping up its fintech play, launching new finance products in India and South Korea, including credit cards, loans for consumer electronics purchases, and a new all-encompassing fintech app. Samsung’s digital lending program

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Four Asian E-wallets Expand to South Korea Through Alipay+

Ant Group announced that Alipay+ will be integrated into Asian e-wallets AlipayHK, the Philippines’ GCash, Malaysia’s Touch ‘n Go, and Thailand’s TrueMoney in an effort to jointly promote cashless travel in South Korea as travel restrictions were lifted in the country.

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South Korean Payments Firm CHAI Pockets US$45 Million in Series B+ Fundraise

South Korean payments startup CHAI raised US$45 million during a Series B+ funding round that was co-led by SoftBank Ventures Asia (SBVA) and Nyca Partners. SBVA’s participation in this funding round marks their second Series B investment into CHAI. The

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17 South-Korean Fintech Startups Graduates F10’s Accelerator Programme

In the virtual Demo Day held on September 2nd 2021, 17 teams from South Korea have successfully completed F10’s intensive 6-week Fintech Accelerator programme. The 6-week programme was run by F10 in partnership with Seoul Fintech Lab, which is funded

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Kakao Pay Seeks to Raise US$1.4 Billion in Upcoming IPO

Kakao Pay, a fintech subsidiary of Kakao which is the South Korean firm that runs the KakaoTalk messenger app, announced that it has kicked off its initial public offering (IPO) filing, planning to raise up to 1.632 trillion won (US$1.4

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South Korea Regulators to Expand Open Banking Ecosystem

South Korea’s Financial Services Commission (FSC) has unveiled its work plan for 2021, outlining key areas of focus and policy tasks for the year, including promoting financial innovation by advancing open banking development and adoption, the regulator said on January

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EMQ Expands Cross Border Payments Service to South Korea

EMQ, a Hong Kong-based financial settlement network, announced that it has expanded its operations into the South Korean market, offering cross-border payment capabilities worldwide. “South Korea has one of the most vibrant digital economies in the world with its retail

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Rapyd Expands Payment Capabilities to South Korea

Rapyd, a Fintech-as-a-Service company, has expanded its all-in-one payment capabilities in South Korea, its sixth global market. The expansion of the Rapyd Global Payments Network first took place in Singapore in November 2019, followed by Brazil in March 2020, the

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