Seoul Fintech Lab is set to host the ‘Seoul Fintech Lab Performance Sharing Meeting and Fintech Year-End Greeting Event’ on December 28.
Seoul Fintech Lab, in partnership with the Korea Fintech Industry Association, is set to host the ‘Seoul Fintech Lab Performance Sharing Meeting and Fintech Year-End Greeting Event’ on December 28. The event, scheduled to take place at the WeWork Yeouido Station branch on the 20th-floor lounge, serves as a momentous occasion to reflect on the achievements of fintech startups nurtured under the Lab’s robust support programs.
A Beacon of Fintech Innovation in South Korea
Established in 2018 by the Seoul Metropolitan Government, Seoul Fintech Lab has evolved into the largest fintech startup support organization in South Korea.
The Lab’s journey began with support for 14 companies, and it now provides a home for 100 startups, fostering the growth of over 250 fintech ventures to date. Notably, the Lab has displayed a consistent upward revenue trend since its inception, demonstrating resilience against the challenges posed by the pandemic and economic downturn.
Comprehensive Support Ecosystem
Companies residing in Seoul Fintech Lab enjoy a range of support benefits designed to catalyze their growth. This includes a year of office space with the possibility of extending residency for up to three years based on performance evaluations. The Lab also offers diverse programs encompassing promotional support, networking opportunities, and customized training initiatives aimed at enhancing practical skills.
Continuous support extends to various facets, such as 1:1 mentoring with industry experts, assistance with navigating financial regulations, investment attraction strategies, Demo Day participation, open innovation initiatives, talent recruitment assistance, global acceleration programs, and support for international expansion.
Throughout 2023, the Lab has collaborated with multiple organizations to spearhead programs promoting the growth of its resident companies. Notable events include the GROWTH Demo Day in collaboration with Eugene Investment & Securities, providing invaluable Investor Relations (IR) opportunities.
Additionally, open innovation initiatives with Hana Bank have propelled advancements in fintech technology. An agreement with DGB Financial Group has further strengthened the Lab’s commitment to discovering potential opportunities for its resident companies.
Success Stories Illuminate Fintech Landscape
The upcoming Performance Sharing Meeting and Fintech Year-End Greeting Event on December 28 provides a platform for startups to showcase their achievements.
Notable success stories include Habit Factory, which surpassed 10 billion won in commission revenue last year through its insurance comparison app ‘Signal Planner.’ The company has already exceeded 7.4 billion won in the first half of this year and recently raised 20.6 billion won in a Series C funding round, bringing total investment to 34.4 billion won.
Funderful, a K-content investment platform, expanded its global reach by signing an MOU with the security token offering (STO) platform ‘IX Swap.’ Meanwhile, ‘Moin,’ specializing in overseas remittance services, has strengthened its position as a B2B fintech specialist, attracting corporate clients and surpassing 1,500 registered institutions.
Seoul Fintech Lab remains committed to its goal of producing unicorns in Seoul by 2030. The Lab continues to evolve its support programs to nurture future unicorns, enhance startup support initiatives, and contribute to creating a global environment for Seoul’s fintech startups.
As the fintech ecosystem in South Korea continues to flourish, the collaborative efforts of Seoul Fintech Lab and its partners serve as a testament to the innovation, resilience, and growth potential within the dynamic landscape of financial technology