Techmate Forms Partnership with UK’s Oxford Metrica

"Korean Loan Industry Goes Global"
"Aiming to Become a Leading AI Fintech Company"

Techmate Korea Loan, a leading domestic consumer finance company, announced on September 29 that it held a signing ceremony for a Letter of Agreement (LoA) with the British investment advisory firm Oxford Metrica to strengthen their global financial partnership.

Techmate Korea Loan and UK investment advisory firm Oxford Metrica are taking a commemorative photo after signing a cooperation agreement at Lotte Signiel in Jamsil, Seoul. Techmate

The signing ceremony took place on September 25 at Lotte Signiel in Jamsil, Seoul.

Oxford Metrica is led by Chairman Rory Knight, a veteran in the financial sector. Chairman Knight previously served as Dean of the Business School at the University of Oxford and as Vice Governor of the Swiss National Bank. The company has provided strategic analysis and management consulting to central banks and major global corporations worldwide.

Through this partnership, the two companies plan to collaborate on several initiatives: pursuing a fast-track listing in the Hong Kong market, establishing partnerships with family offices in the United States, Europe, and Asia, considering a listing on the U.S. over-the-counter (OTC) market, and expanding their value investment network in the U.S. and European markets.

Techmate will focus on expanding the global financial network of 'Happy Money,' its corporate pawnshop brand operating in Vietnam. Oxford Metrica will also make strategic investments in Happy Money.

Techmate stated that, leveraging this collaboration, it aims to strengthen its global network not only in key Asian hubs such as Hong Kong and Singapore but also across the United States and Europe.

Additionally, the company will accelerate its transition to artificial intelligence (AI) technologies, including the development of AI-based credit evaluation and risk management systems, data-driven consumer behavior analysis, and automation of inventory and demand forecasting. Through these efforts, Techmate aims to become a world-class AI fintech company.

Shim Hyungseok, CEO of Techmate, commented, "This partnership is significant as it marks the first step for a domestic loan company to enter the global financial network in earnest. Techmate will not only expand its global network but also take on the new challenge of digital transformation, thereby increasing growth opportunities in the global financial market."

Chairman Knight stated, "The growth of Techmate and Happy Money is a testament to the competitiveness of Korea's financial industry. I expect that through this partnership, the potential and opportunities of the Korean financial market will become even more prominent."

Meanwhile, in 2016, Techmate attracted the industry's first overseas investment of 15 million dollars (approximately 21.4 billion won) from the global private equity fund Carlyle Group. Since then, it has secured investments from global financial institutions such as CDIB Capital Group and KGI Bank.

Recently, Techmate raised 30 million dollars (approximately 41.7 billion won) from the Lending Ark Fund of Hong Kong-based global private equity firm CLSA Capital Partners. The total cumulative overseas investment attracted amounts to 180 million dollars (approximately 249.8 billion won).

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