8 Percent Raises 45.3 Billion KRW Investment... "Expanding Mid-Interest Rate and Debt Refinancing Loan Supply"

[Asia Economy Reporter Song Seung-seop] Online investment-linked finance company 8 Percent announced on the 14th that it has attracted an investment of 45.3 billion KRW from Silicon Valley investors and others.

The main company participating in the investment is BRV Capital Management. As a growth investment platform, it has invested in promising industry companies such as Google Waze, Apple Topsy, and PayPal by leveraging 20 years of global investment performance and networks. This is the first time BRV has invested in a Korean fintech company.

In addition, Glint Partners made a new investment, and existing shareholder SBI Investment participated in additional investment.

8 Percent utilizes the fusion of accumulated financial and non-financial data. Through this, it plans to expand partnerships with established financial institutions and advance mid-interest loans and alternative investment services. It will also focus on supplying refinancing loan products that convert high interest rates into mid-interest rates. In particular, it plans to increase financial services specialized for 'gig workers,' who have had difficulty obtaining loans from traditional financial sectors.

CEO Lee Hyo-jin emphasized, "8 Percent has improved inefficiencies in the domestic loan market," and added, "We will continue to accelerate the provision of financial services for customer groups who have not benefited from the existing financial system, such as startup and small business employees, platform operators, and gig workers."

This content was produced with the assistance of AI translation services.