Habit Factory Selects Samsung and KB Securities as IPO Underwriters: "Aiming for Listing in 2027"

AI-based fintech company Habit Factory announced on December 2 that it has selected Samsung Securities and KB Securities as joint lead underwriters for its initial public offering (IPO).

In August, Habit Factory sent out requests for proposals to major domestic securities firms and conducted competitive presentations. The company plans to strengthen its capital base and lay the foundation for growth through the IPO. It also aims to accelerate the expansion of its overseas markets and the discovery of new business opportunities.

In the third quarter, the U.S. subsidiary of Habit Factory saw its loan volume increase by 104.3% compared to the same period last year. Domestic business revenue also rose by 68.3% year-on-year. Since the first half of the year, the company has been expanding the scope of AI applications to enhance work productivity and customer satisfaction.

Habit Factory established its U.S. subsidiary in 2022, at a time when overseas expansion by fintech startups was rare, and launched its service just three months later. By leveraging AI and data, the company minimized human intervention. By streamlining work processes, it was able to reduce various costs and offer interest rates up to 1 percentage point lower than those of major local financial institutions. The loan processing period was also reduced from 30 days to 7 days. The company explained that reducing customers' time and interest expenses contributed to improved performance.

Habit Factory operates mortgage-specialized banks in five states: California, Texas, Georgia, Nevada, and Washington. The company has set a goal to expand into more states and increase its market share.

Jung Yunho, Co-CEO of Habit Factory, said, "Samsung Securities and KB Securities have built trust through outstanding performance, so we have chosen them as partners to drive our growth strategy together. We plan to solidify our presence in overseas markets by sequentially selecting countries with high demand for digitalization."

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