CNT Tech, an investment accelerator that operates the 2nd Seoul Fintech Lab, announced that it invested in alternative credit rating startup ConnexioH through the 'CNT Tech DB Dream Big Investment Association' jointly operated with DB Capital.
The 2nd Seoul Fintech Lab is a startup support facility that discovers and fosters early-stage startups in the fintech and blockchain fields. It provides various programs such as mentoring, networking, demo days, and participation in domestic and international exhibitions to help resident companies grow.
Last December, the 2nd Seoul Fintech Lab and DB Capital signed a business agreement (MOU) for the development of the fintech industry and mutual cooperation. Before signing the agreement, the two organizations had been continuously cooperating and working to activate the fintech startup investment ecosystem. Through various support programs of the 2nd Seoul Fintech Lab, such as open innovation and regular IR programs, promising companies have been discovered, and this investment was made as part of the results.
ConnexioH is a company that entered the 2nd Seoul Fintech Lab in January 2024, and was selected as an investment target thanks to the continued cooperation between the 2nd Seoul Fintech Lab and DB Capital. This investment is the first case of funding after the agreement with DB Capital, and was made as a result of highly evaluating ConnexioH’s global market entry capabilities through legal and technical reviews.
ConnexioH analyzes over 1.18 million data-holding businesses, over 300 million data-holding products, and over 3 million collected keywords using AI and machine learning technologies to provide non-financial information-based credit rating services to financial institutions. In addition, it operates the 'Everyday All Sales (Maemopan)' service, a sales data analysis solution for e-commerce companies, utilizing the collected data.
The 2nd Seoul Fintech Lab stated, “Connexio H is one of the companies that has grown rapidly since moving in with its outstanding technological prowess and innovative business model.” They continued, “Through this investment, we expect Connexio H to create successful cases in the global fintech market beyond the domestic market, and we will actively support the growth of promising fintech startups.”
DB Capital Team Leader Kang Seok-min said, “Connexio H is an innovative data platform company that connects e-commerce and finance, and we believe it has great potential for continued growth,” adding, “We expect that this investment will allow Connexio H to present a new standard for the fintech market.”
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