Fintech company DevD (CEO Kim Ki-tae) announced that it has been selected for the Tech Incubator Program for Startups (TIPS), a technology startup support program run by the Ministry of SMEs and Startups. This selection is the result of an evaluation of DevD's core technological capabilities, including its distributed processing-based payment stabilization technology and automated contract verification system.
TIPS is a technology startup incubation program jointly operated by the private sector and the government. It selects promising startups and supports their research and development (R&D) and commercialization. DevD will receive up to 500 million won in technology development funding over the next two years, and MY Social Company will be the operator of TIPS.
Devdi operates "Zipup Pay," a specialized monthly rent card payment service. "Zipup Pay" moves away from the traditional cash-based monthly rent payment method and supports card payments. Its key features include simplified taxation, automatic year-end tax refund calculation, and various benefits linked to lifestyle services.
The monthly rent card payment market is still in its infancy, but demand is expected to grow due to the rise in single-person households and the growing preference for contactless payments. Devdi plans to capitalize on this TIPS selection by advancing its AI technology specialized for real estate transactions, strengthening the stability of next-generation payment systems, developing document automation and verification technologies, and expanding into overseas markets.
Kim Ki-tae, CEO of DevD, said, “We see this selection as a positive market assessment of the technological complexity and scalability of the monthly rent payment sector,” and added, “Based on R&D support, we will accelerate the digital transformation of the real estate payment sector.”
Meanwhile, Devdi attracted seed investment this year and has established quality management and information security systems by obtaining ISO 9001 and ISO 27001 certifications. It is attracting attention for its "CarTech" (card + investment) service, which combines card benefits and financial investment, targeting young people and the self-employed, its primary target demographic.
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