Korea Credit Data raises $24.7m in Series D extension

Seoul-based fintech start-up Korea Credit Data (KCD) has secured $24.7 million (KRW 35 billion) in a Series D extension round that featured participation from Fiserv and LG U+.

Korea Credit Data raises additional funds

Since it was founded in 2016, the Korean start-up has raised more than $110 million (KRW 160 billion) in total funding. With the additional funding from its Series D extension, the company’s valuation currently sits at approximately $776 million.

Existing strategic investors of KCD include KB Kookmin Bank, Shinhan Card, Samsung Fire and Marine and Kakao. Its venture capital investors include Pavilion, a venture-specialised fund of Temasek, Singapore’s sovereign wealth fund and K-Unicorn Investment.

Korea Credit Data aims to help small and medium-sized enterprises (SMEs) in Korea by providing them with access to digital financial services. In 2017, it launched Cash Note, a bookkeeping app designed to help SME owners and the self-employed manage cashflow, expenditure, sales and credit card settlements.

The company claims Cash Note now serves over 1.2 million businesses, and KCD itself provides services and products to more than 1.7 million businesses. Its subsidiaries include Korea Credit Service and ImU, a point of sale (POS) hardware provider.