South Korean fintech Finda, a loan comparison platform, raised $37 million in Series C funding from JB Financial Group and 500 Global, with JB Financial Group becoming a strategic investor.
Facts
- Finda raised $37 million (KRW 47 billion) in Series C funding from JB Financial Group and 500 Global.
- JB Financial Group participated in the funding round as a strategic investor, and its subsidiary, Jeonbuk Bank, has been collaborating with Finda since 2020 for a digital credit loan product offering.
- JB Financial Group acquired a 15% stake in Finda, with JB Financial Holdings buying a 5% stake, and Jeonbuk Bank acquiring a 10% stake in the company.
- Founded in 2015, Finda is headquartered in Seoul and is considered one of the top three companies in South Korea’s loan comparison platform market, along with Toss and Kakao Pay. It claims to have brokered loans worth KRW 4 trillion in the previous year.
- With the new funds, Finda aims to enhance its platform by introducing new product offerings, including mortgage loan repayment, deposit and insurance comparison, and brokerage services, set to launch in the future.
- Additionally, Finda plans to establish an artificial intelligence fraud transaction detection system (AI-FDS) and a specialized alternative credit rating model.
