In collaboration with the Korea Fintech Industry Association, the Lab will host the ‘Seoul Fintech Lab Performance Sharing Meeting and Fintech Year-End Greeting Event’ on the 28th. This event will take place at the WeWork Yeouido Station branch on the 20th-floor lounge.
The Seoul Metropolitan Government founded Seoul Fintech Lab, the biggest fintech startup assistance group in South Korea. It began in 2018 by supporting 14 businesses, and as of right now, it has supported over 250 fintech startups and housing 100 startups. Overcoming the pandemic and economic slump, its annual revenue has demonstrated a sharp rising tendency since its founding.
Companies staying in Seoul Fintech Lab can benefit from a variety of support services. A year of office space is included, and depending on performance reviews, the residency may be extended for a maximum of three years. The Lab also provides a range of other services, including networking opportunities, specialized training programs for improving practical skills, and promotional support to raise the companies’ profile.
Additionally, the Lab offers ongoing support to fintech startups in a number of areas, such as one-on-one mentoring with professionals in the field, help with financial regulations, attracting investment, Demo Day, open innovation, hiring talent, global acceleration, and assistance with international expansion.
The Lab has collaborated with numerous groups to support initiatives for the expansion of its resident companies throughout 2023. In order to give businesses access to IR opportunities, it recently organized a GROWTH Demo Day in partnership with Eugene Investment & Securities. Additionally, it carried out open innovation with Hana Bank to progress fintech technology. In addition, a contract has been reached with DGB Financial Group to continuously find these businesses possibilities.
The startups who have expanded thanks to Seoul Fintech Lab’s support programs have a unique opportunity to celebrate on the 28th: the Performance Sharing Meeting and Fintech Year-End Greeting Event. It will be a chance for allied groups and resident enterprises to interact and discuss their varied 2023 accomplishments.
For example, Habit Factory’s commission revenue from the insurance comparison and suggestion app “Signal Planner” exceeded 10 billion won last year, and so far this year it has surpassed 7.4 billion won in the first half. It will further improve its technology with the 20.6 billion won in Series C capital it recently secured, bringing its total investment to 34.4 billion won. By entering into an MOU with the security token offering (STO) platform “IX Swap,” the K-content investment platform “Funderful” has also increased its overseas investment. Furthermore, ‘Moin,’ an international remittance services provider, is solidifying its standing as a B2B fintech expert by drawing in business customers such as purchasing agencies and e-commerce companies, and it just surpassed 1,500 registered institutions.
Seoul Fintech Lab stated, “In line with the goal of producing unicorns in Seoul by 2030, we are developing and providing the most suitable growth support programs for fintech startups to spawn future unicorns. We will continue to enhance our startup support programs and strive to create a global environment for Seoul’s fintech startups.