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Leading Korean Online Lending Platform, Peoplefund Raises Krw 75.9 Billion Series C Funding Led By Bain Capital

Dec 03, 2021•almost 4 years ago

Round Type

series c

SeoulFinancial ServicesSoftware

Description

PeopleFund (CEO Joey Kim), South Korea's leading online lending platform focused on consumer loans, announced today the successful completion of a KRW75.9 billion Series C round of funding raising from global financial institutions, including Bain Capital, Lending Ark Asia Secured Private Debt Fund and 500 Global. The company, with a total KRW100 billion, has raised the largest amount of funding among all lending platforms in Korea. Investors now include Bain Capital, Lending Ark Asia Secured Private Debt Fund, 500 Global and KakaoPay. Global investment bank Goldman Sachs, which has obtained equity exposure and lead financing for a debt warehousing facility with Lending Ark Asia Secured Private Debt Fund for the platform.

Company Information

Company

People Fund Company

Location

Seoul, Seoul, South Korea

About

Founded in 2015, PeopleFund is Korea's leading data-driven digital lender focused on consumer finance. Our mission is to give financial freedom to all consumers through more affordable loans and better investment opportunities. Leveraging its proprietary, data-driven credit model and eliminating inefficiencies with technology, PeopleFund delivers better loan rates for borrowers while maintaining an industry low loss rate to benefit retail and institutional investors. PeopleFund is the first digital lender in Korea to surpass $1B in loan originations and has provided an innovative way to invest to nearly 400,000 retail investors. To date, PeopleFund has completed its Series C round of funding with a total of $100M of equity capital raised. Major investors include Bain Capital, CLSA Capital Partners, 500 Global and Kakao Pay. Goldman Sachs, which has obtained equity exposure and lead financing for a debt warehousing facility with Lending Ark Asia Secured Private Debt Fund for the platform. For more information, visit www.peoplefund.co.kr Leading Korean Online Lending Platform, PeopleFund Raises KRW 75.9 Billion Series C Funding led by Bain Capital