IBK Industrial Bank invests 10 billion KRW in fintech company Niceabc

Investment in a Fintech Company Operating a P2P Financial Platform

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 12th that it has selected ‘Nice Business Platform’ (Niceabc) as an investee company of the ‘IBK-Stonebridge Innovation Growth Private Equity Fund (PEF)’ and completed the investment.

The investment amount is 10 billion KRW, and IBK will acquire newly issued common shares of Niceabc.

Niceabc is a fintech company operating a peer-to-peer (P2P) financial platform. It provides financial services that securitize electronic promissory notes and accounts receivable by connecting selling companies, purchasing companies, and investors. It has also formed a business partnership with IBK’s management support platform ‘IBK Box’ to provide electronic promissory note discounting services to small and medium-sized enterprises.

An IBK official stated, “The company possesses a high level of credit evaluation and risk management capabilities through a big data and artificial intelligence (AI)-based corporate evaluation model,” adding, “We expect it to provide various financial infrastructures beyond accounts receivable securitization.”

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