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.
Seoul Fintech Lab is the largest fintech startup support organization in South Korea, established by the Seoul Metropolitan Government. Since its inception in 2018, starting with support for 14 companies, it now houses 100 startups and has fostered over 250 fintech startups to date. Since its establishment, its annual revenue has shown a steep upward trend, overcoming the pandemic and economic downturn.
The support benefits for companies residing in Seoul Fintech Lab are diverse. They include a year of office space with the possibility of extending the residency for up to three years based on performance evaluations. Additionally, the Lab offers various programs, such as promotional support to enhance the companies’ visibility, networking opportunities, and customized training programs for practical skill enhancement.
Moreover, the Lab provides continuous support for fintech startups in various areas, including 1:1 mentoring services with industry experts, assistance with financial regulations, investment attraction, Demo Day, open innovation, talent recruitment, global acceleration, and support for international expansion.
Throughout 2023, the Lab has worked with various organizations to promote programs for the growth of its resident companies. Recently, it held a GROWTH Demo Day in collaboration with Eugene Investment & Securities to provide IR opportunities to companies, and conducted open innovation with Hana Bank to advance fintech technology. Furthermore, an agreement with DGB Financial Group has been concluded to continually discover potential opportunities for these companies.
The upcoming Performance Sharing Meeting and Fintech Year-End Greeting Event on the 28th is a special occasion for the startups that have grown through the support programs of Seoul Fintech Lab. It will be an opportunity for resident companies and related organizations to communicate and share various achievements made in 2023.
For instance, Habit Factory, which surpassed 10 billion won in commission revenue last year through its insurance comparison and recommendation app ‘Signal Planner’, has already exceeded 7.4 billion won in the first half of this year. It recently raised 20.6 billion won in a Series C funding, bringing its total investment to 34.4 billion won, which will further enhance its technology. The K-content investment platform ‘Funderful’ has also expanded its foreign investment by signing an MOU with the security token offering (STO) platform ‘IX Swap’. Additionally, ‘Moin’, a company offering overseas remittance services, is strengthening its position as a B2B fintech specialist, successfully attracting corporate clients including e-commerce and purchasing agencies, recently surpassing 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.
