B2B Payment Solution 'Paymons' Secures Series A Funding
B2B Postpaid Payment Service Platform for Small Business Owners
Finobus Lab, which operates the B2B (business-to-business) payment solution 'Paymence,' announced on the 1st that it has successfully raised 1.8 billion KRW in a Series A funding round. This investment was led by Kakao Pay, with participation from existing investors Seulgi Asset Management and Strong Ventures, bringing the total accumulated investment to 3.5 billion KRW. Finobus Lab was also selected for the SparkLabs '17th Batch Program' and secured seed investment.
Paymence is a B2B post-payment service platform that allows suppliers to receive early payment and buyers to defer cash outflows for 30 to up to 60 days, thereby securing liquidity. It eliminates receivables risk through an accounts receivable transfer method and manages transaction risk via guarantee insurance.
Finobus Lab recently launched 'Paymence 2.0' and is expanding its market into various sectors such as food ingredients, pet supplies, daily necessities, and steel. Regardless of business size, both suppliers and buyers can secure flexible cash flow. Due to continuous growth in service demand, it recorded transaction volumes exceeding 1 billion KRW per month within just three months of launch.
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Based on this investment, Finobus Lab plans to enhance its B2B payment platform and focus on generating new partners and customers. Jang Jong-wook, CEO of Finobus Lab, stated, “Paymence, which started to solve financial issues for small merchants in Dongdaemun, has grown into a comprehensive solution covering the entire B2B sector,” adding, “We will collaborate with partners who have expertise in each area to improve user experience and continuously reduce problem-solving costs.”
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