On the 24th, Olafintech announced that it had completed a Series B investment of 12 billion won. In this investment, following KB Kookmin Card’s investment of 9 billion won, Singaporean venture capital Altara Ventures and Vietnam’s Du Ventures joined the Series B round by investing an additional 3 billion won each.
Through this investment, KB Kookmin Card will become the second largest shareholder of Olleh Fintech and will accelerate the expansion of financial services along with stable funding based on strategic partnerships with major financial institutions.
Ola Fintech's flagship service, 'Ola Settlement', innovatively solves the problem of delayed settlement for online shopping mall sellers and has recorded a cumulative settlement amount of over 4 trillion won to date.
Kim Sang-soo, CEO of Ollafintech, said, “We have worked hard to maintain the strength of our super-easy pre-payment service for the past four years, and we are grateful that we have been recognized as a trustworthy service in the industry as a result of fulfilling our responsibilities without requesting reimbursement from sellers even during the T-MakePrice incident.” He added, “Based on this Series B investment, we plan to launch various services starting in 2025 that can overcome the cash crunch of small and medium-sized businesses, such as traditional wholesale and retail distribution markets, post-paid service markets, and global service advancement.”
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