Vision AI company Seesun AI announced on the 30th that it will acquire financial and fintech company Solk Holdings through a board resolution. Seesun AI will acquire a 99.9% stake in Solk Holdings from a private equity fund (PEF), for a transaction value of approximately 2 billion won. The acquisition price will be paid through convertible bonds (CB).
The convertible bonds being issued this time are in the form of perpetual bonds and are accounted for as capital, which is expected to contribute to enhanced financial stability. The coupon rate is 0.0%, the guaranteed yield to maturity is 3.0%, and the maturity period is 30 years. There is no put option, so there is no burden of early redemption.
Through the acquisition of Solk Holdings, Siseon AI will consolidate its subsidiaries, Together Apps (53.35% stake) and Hello Fintech (100%). These two companies are P2P financial platform companies, primarily engaged in mid-tier mortgage loans and small business collateralized financing (SCF) loans, respectively, and hold Online Investment-Linked Finance (Ontooup) licenses. Their cumulative loan balance amounts to approximately 4.5 trillion won.
Through this acquisition, Siseon AI plans to secure a foundation for entry into the financial industry, including an on-demand business license, while also expanding its fintech business portfolio by leveraging the companies' financial data and operational experience.
The company is developing a variety of features, including AI-powered loan review automation, an electronic KYC (eKYC) system, identity verification technology, anomaly detection, and RPA-based workflow optimization. Through these initiatives, the company aims to enhance the security and efficiency of the loan process and improve the operational structure of its existing on-to-up service.
Additionally, the company is pursuing a strategy to reduce dependence on human resources and fixed costs by replacing previously manual loan processing with an AI automation system.
Seesun AI plans to enter the virtual asset-based financial services market, including stablecoins. The company is preparing related technologies and platforms in preparation for the introduction of a won-based stablecoin system, and is also discussing collaborations with overseas companies to expand its global business.
Through this acquisition, Seesun AI is expected to build a new financial service model based on the convergence of AI and fintech, and strengthen its competitiveness in the loan brokerage market targeting individuals and small and medium-sized businesses.
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