Freefins announced on the 27th that it has secured a new pre-Series A investment from Ernest Ventures. This investment has accelerated the fundraising process for Freefins' pre-A round, which includes participation from existing investors such as Coolidge Corner Investments. Additional investment negotiations with multiple venture capital firms and institutions are in the final stages.
This investment is a follow-up to last year's seed round, which also saw participation from Leading Investment & Securities and K Clavis Investment. Honest Ventures reportedly highly valued Freefins' proprietary SaaS technology and its potential to revolutionize the rental conversion market. With this investment, the company officially launched its core platform, "FRP (Rental & Finance Integrated Platform) 1.1." The secured funds will be used to enhance SaaS and strengthen rental, subscription, and finance-related services.
A key feature of FRP 1.1 is its "one-stop financial service." Based on operational data such as contracts, payments, and sales within the platform, customers can immediately apply for necessary financial services, such as ABL and accounts receivable factoring. The entire process, from financing application to limit approval and contract conclusion, can be managed on the platform.
In addition, FRP 1.1 enhances the stability of the payment system by integrating with automated payment solutions from companies like NICE and Hyosung. It also enhances operational convenience by automating receivable management and eliminating redundant tasks. The user experience (UI/UX) has also been completely revamped, featuring a business dashboard that provides visual graphs of key indicators like rental status and sales trends.
CEO Shin Sang-yong stated, "This investment once again demonstrates the technological innovation of our FRP platform and the potential for expansion into the rental-to-subscription market. We will become a partner that supports our clients' business operational efficiency and financial integration." He continued, "Through advanced SaaS and AI-based financial innovation, we will strengthen our leading position in the rental-to-subscription market."
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