EarlyPay Secures Seed Investment... "We Will Reduce Small Business Closure Rates"

EarlyPay, which provides advance payment services to small business owners, recently completed a seed-stage investment round. The investment included participation from Seoul National University Technology Holdings, MYSC, and Kiwoom Investment. The investment amount was not disclosed.

EarlyPay offers a service that advances the settlement of card and delivery platform sales generated at offline stores nationwide to the next day. [Related article= "Receive Card and Delivery Sales the Next Day" EarlyPay Helps Small Business Owners with Advance Payments]

The goal is to shorten the settlement cycle for small business owners from up to 14 days to just one day, thereby increasing cash liquidity and reducing the closure rate of small businesses.

Seung-hwan Mok, CEO of Seoul National University Technology Holdings, stated, "We will contribute to the survival and development of the small business market through active discovery and investment in domestic fintech companies," adding, "EarlyPay will support the creation of a healthy small business economy."

Hwan-sung Jang, CEO of EarlyPay, said, "With this investment as a stepping stone, we will prepare for the personal business owner MyData initiative promoted by the government and financial authorities, striving for sustainable economic development of small businesses and inclusive finance."

Meanwhile, EarlyPay was recently selected for the Ministry of SMEs and Startups' TIPS program and will receive 500 million KRW in government support. This funding aims to enhance the service further.

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