Fintech startup 276 Holdings has completed its Series A funding round. Five companies, including Korea Investment Accelerator, HG Initiative, Magna Investment, Dunamis Asset Management, and Big Basin Capital, participated in the round, raising a total of KRW 2.9 billion.
In 2024, 276 Holdings achieved a 400% year-over-year revenue growth and was recognized for its achievements in various external support projects, including receiving the Minister of Science and ICT Award. These achievements and accomplishments earned the trust of investors, enabling the successful completion of this Series A round.
The company plans to use this investment to simultaneously expand its service base and enhance its platform. Specifically, the company has established a strategy to fully implement AI technology in corporate credit ratings and cash flow analysis, providing a more precise assessment system and customized financial services.
276 Holdings provides solutions for securitizing accounts receivable (FLOWPOINT) and financing raw material purchases (FLOWPAY) to address cash flow issues for small and medium-sized enterprises (SMEs). This Series A investment is seen as a market recognition of the platform's scalability and growth potential. The company also outlined its vision to accelerate its global expansion, aiming to become the leader in the corporate BNPL market and achieve an IPO within the next five years.
In particular, with the new addition of Dunamis Asset Management in this round, the foundation for establishing a private equity fund to facilitate the liquidity of small and medium-sized enterprises (SMEs) in the future has been laid, and with the participation of Big Basin Capital, based in Silicon Valley, the momentum for full-scale overseas market entry has been gained.
Shin In-geun, CEO of 276 Holdings, said, “With this investment, we will internally enhance our AI-based evaluation model and create an ecosystem where small and medium-sized enterprises can utilize funds more transparently and efficiently.” He added, “Furthermore, we will leverage business ties with new shareholders to create opportunities for innovative growth.”
- See more related articles
You must be logged in to post a comment.