Travel Wallet (CEO Hyungwoo Kim), a foreign currency payment fintech company, has been selected for the 'Special Guarantee Support Program for Potential Unicorns' hosted by the Ministry of SMEs and Startups.
The Pre-Unicorn Special Guarantee program identifies and supports startups with high growth potential as global unicorns, based on a comprehensive evaluation of factors such as sales growth potential, job creation, and investment attraction capabilities. This year, a total of 79 companies applied, resulting in a competition rate of 5.3 to 1. Of these, 15 companies, including Travel Wallet, were ultimately selected. Through this selection, Travel Wallet secured a scale-up funding guarantee worth up to KRW 20 billion.
Travel Wallet provides a platform that encompasses the entire global payment process, including overseas payments, currency exchanges, and remittances. It has been recognized for its innovation in solving the high fees and long processing times of existing banking services. Notably, since launching Korea's first zero-fee foreign currency payment service in 2021, Travel Wallet has grown into a leading global payment company, recording 8.3 million cumulative card issuances and KRW 6.5 trillion in cumulative payments as of the end of August.
Recently, the company has expanded its business areas by securing a split payment patent, issuing smart ATM cards on the same day, forming partnerships with domestic and international companies, and providing B2B financial cloud SaaS solutions. Furthermore, the company is strengthening its position as a global payment infrastructure company by securing patents in major overseas markets.
Travel Wallet is expanding beyond simple international payment services to include a stablecoin-based digital wallet, preparing to leap forward as a global financial infrastructure company. By providing consumers with a borderless payment experience and businesses with cloud-based automated foreign exchange, payment, and settlement solutions, Travel Wallet aims to become a leading global payment infrastructure company, extending beyond Asia and into the global market.
Kim Hyung-woo, CEO of Travel Wallet, said, “This selection as a potential unicorn is an official recognition of Travel Wallet’s innovation and growth potential,” and added, “We will expand our digital wallet business based on stablecoins and financial SaaS to establish ourselves as a next-generation fintech company leading the global payment infrastructure.”
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