The Korea Fintech Association announced today that it signed an MOU with Russian Fintech venture capital firm Life.SREDA on January 16.
The MOU aims to support fintech startups with attracting investment and expanding overseas, as well providing networking opportunities and sharing human resources. It will also give priority to selected Korean startups looking for investment through events held by the association. Discussions between the two organizations began in August last year.
“The MOU with Life.SREDA, which has specialized in investing in fintech,companies, is very meaningful for the development of Korea’s fintech sector,” said President of the Korea Fintech Association, Seung-geon Lee. “Going forward, we’ll continue to have discussions on ways to work well together.”
Life.SREDA moved its headquarters to Singapore in May last year to expand its investments in the Asian market. The firm originally expressed interest in South Korea in 2015, when it announced a combined investment with VC firm Marvelstone of USD $20 million into promising Asian fin-tech startups, with a special focus on Korea.