Wadiz Partners with Korea Credit Guarantee Fund to Support Startups and SMEs

Joint Recommendation of Companies Recognized for Growth Potential... Strengthening Post-Management of Successful Crowdfunding Companies

[Asia Economy Reporter Kim Cheol-hyun] Wadiz (CEO Shin Hye-sung) announced on the 21st that it has signed a business agreement with the Korea Credit Guarantee Fund (Chairman Yoon Dae-hee) to support 'investment in equity-type crowdfunding.'

This agreement is part of the 'Crowdfunding Development Plan' announced by the Financial Services Commission in June, aimed at supporting early-stage startups to smoothly raise funds through crowdfunding and achieve sustainable growth. As a result, if the subscription amount of companies participating in equity-type crowdfunding falls short, the Korea Credit Guarantee Fund can provide investment support upon Wadiz's request when more than 30% of the planned amount is achieved.

According to this agreement, Wadiz and the Korea Credit Guarantee Fund plan to mutually recommend companies recognized for their technological capabilities and growth potential, and strengthen post-management of successful crowdfunding companies.

Since registering as an online small investment brokerage in 2016, Wadiz has accounted for about 80% or more of the fundraising amount annually in equity-type crowdfunding, playing a catalyst role for startups with technology and ideas to grow. The follow-up investment amount from successful companies that attracted funds through Wadiz funding and were recognized for their growth potential, leading to institutional investment, has now exceeded 160 billion KRW in total.

Shin Hye-sung, CEO of Wadiz, said, "With this agreement with the Korea Credit Guarantee Fund, opportunities for promising companies with growth potential and technological capabilities to raise funds have increased." He added, "We plan to further activate venture capital and foster the startup ecosystem in line with the policy of supporting innovative growth of startups."