South Korea’s Finda bags $37m Series C funding
South Korean fintech Finda, which operates a loan comparison platform, has secured $37 million (KRW 47 billion) in Series C funding from JB Financial Group and 500 Global.
JB Financial Group took part in the round as a strategic investor, with its subsidiary Jeonbuk Bank partnering with Finda for a digital credit loan product offering since 2020.
It has acquired a 15% stake in Finda, with JB Financial Holdings buying a 5% stake, and Jeonbuk Bank acquiring 10% stake in the firm.
Founded in 2015, Seoul-headquartered Finda calls itself one of the top three companies in the country in the loan comparison platform market, alongside Toss and Kakao Pay. It claims to have brokered loans worth KRW 4 trillion last year alone.
With the new funds, Finda hopes to advance its platform with the addition of new product offerings such as mortgage loan repayment, deposit and insurance comparison, and brokerage services, scheduled to launch at a later date. It also aims to establish an artificial intelligence fraud transaction detection system (AI-FDS), and a specialised alternative credit rating model.