MOIN, a fintech company that specializes in global transfers, announced that it attracted series A round investment amounting to 2 billion won.
On Dec 4, MOIN succeeded in receiving 2 billion won investment from BA Partners (lead investor), the Wells Investment, Honest Ventures, Bokwang Venture Capital, Capstone Partners, and Strong Ventures (US).
MOIN started providing global transfer service in October last year, presenting low commission, quick transfer, transparent commision and simple process. MOIN makes global transfers easy via your PC or mobile device and you can use the service by verifying yourself just once, regardless of the OS or the kind of your device.
The service is available for transfers to Japan and China. Showing 138% quarter-over-quarter growth, MOIN is preparing to gain global transfer license that complies with the revised Foreign Exchange Transactions Act. The recent series A round investment has given the green light to acquiring the license, satisfying the capital requisite among the conditions for small-sum money transfer business registration.
After getting the license, MOIN plans to extend the transfer service to Southeast Asia, on top of the exsting markets, Japan and China. Furthermore, it is set to launch an inbound remittance service for sending money from overseas to Korea, to expand the scope of business for Korean workers abroad.