Payment solutions firm NHN Payco said on July 5 that it has attracted 75 billion won funding from investors.
The company said insurance company Hanwha Life and local investor Nub invested 50 billion won and 25 billion won accounting for 6.8 percent and 3.4 percent of the payment company’s value at 730 million won, respectively.
With the new investment, NHN Payco said that it would beef up its competitiveness in the fast growing fintech sector while developing new financial services and data-driven solutions.
In September, 2017, the company received 125 billion won from TV home shopping firm GS Shop and Lee Joon-ho, chairman of entertainment firm NHN.
“NHN Payco has earned trust from investors by launching a global mobile payment solution and participating in state-run MyData project, which allows individuals to control and utilize private data,” said Jeong Yeon-hun, CEO of the payment firm, adding, “The company will try to roll out innovative financial platforms.”
By Kim Young-won (firstname.lastname@example.org)