P2P Finance Company 8 Percent Secures 2 Billion KRW Investment from Korea SMEs and Startups Agency
[Asia Economy Reporter Kim Min-young] The peer-to-peer (P2P) finance company '8 Percent' announced on the 7th that it has attracted investment from the Small and Medium Business Corporation ahead of the enforcement of the Online Investment-Linked Finance Act (P2P Finance Act).
The investment amount received this time is 2 billion KRW. 8 Percent plans to use the investment funds to prepare for the registration of the P2P business, which will take effect this month, as well as to enhance its service model.
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Previously, 8 Percent attracted several investments by gaining recognition for the social value of its service and the effectiveness of its business model. It received equity investments from institutions including the Bank Foundation for Young Entrepreneurs (D.CAMP), KG Inicis, DSC Investment, SBI Investment, and Capstone Partners. In the second half of last year, with support from the Seoul Metropolitan Government, it relocated its headquarters to Seoul Fintech Lab, expanding partnerships with domestic and international financial institutions and working to create a new financial ecosystem.
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