Carrot Insurance "30 Billion KRW Capital Increase Within the Year, Fundraising Including Affirm"

[Asia Economy Reporter Changhwan Lee] Carrot General Insurance announced on the 22nd that it will proceed with a paid-in capital increase totaling 300 billion KRW within this year.

The paid-in capital increase will be conducted in two phases. Carrot recently held a board meeting to finalize an investment attraction of 175 billion KRW, and the second capital increase is also expected to be completed within the year.

In the first paid-in capital increase, a private equity fund (PEF) management company, Apalma Capital, which has a strong interest in mobility investment, was attracted as a new shareholder. Existing shareholders Hanwha General Insurance, Altos Ventures, and Stick Investment also participated in additional investments.

Through this, Carrot now has a shareholding structure of Hanwha General Insurance 50.6%, SK Telecom 7.8%, T Map Mobility 3.9%, Hyundai Motor Company 2.7%, Altos Ventures 10.2%, Stick Investment 15.5%, and Apalma Capital 9.2%.

The second capital increase, scheduled to be completed within the year, is expected to be smoothly finalized through additional contributions from new potential investors including a co-investment fund being raised by Apalma Capital, as well as existing shareholders, the company explained.

Meanwhile, Carrot is Korea's first digital general insurance company established in 2019 as a joint venture by major investors such as Hanwha General Insurance, SK Telecom, Hyundai Motor Company, Altos Ventures, and Stick Investment.

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