Finda nabs $37 million in Series C funding

Lending platform Finda raised 47 billion won ($37 million) in its latest funding round, it said Wednesday.

From left to right: Lee Hye-min, CEO and co-founder of Finda, JB Financial Group Chairman Kim Ki-hong and Park Hong-min, Finda CEO and co-founder. [FINDA]

Lending platform Finda raised 47 billion won ($37 million) in its latest funding round, it said Wednesday.

JB Financial Group and California-based venture capital firm 500 Global made the investment in Finda' Series C funding.

Finda enables users to compare a number of financial products based on loan interest rates. It was founded in 2015.

JB Financial Group holds a 15 percent stake in the company.

The new round of investment comes two and a half years after Finda raised 11.5 billion won in its Series B funding.

The company has received a total of 64.4 billion won from companies including Kia.

Finda said it will use the latest funds to develop services that it plans to launch in the near future, as well as establish systems and develop a credit rating score to update the business.

“There are a number of cases abroad in which a fintech company and a financial firm partner via a share investment, and jointly grow,” Lee Hye-min, CEO and co-founder of Finda, said. “We will set a good precedent in Korea.”

Finda plans to launch a brokerage service for deposits and insurance.

BY JIN MIN-JI [jin.minji@joongang.co.kr]