Wadiz Separates Corporation and Enhances Funding and Investment Services

Transferred to the parent company of the funding service, established subsidiary 'Wadiz Finance' for investment services

[Asia Economy Reporter Kim Cheol-hyun] Wadiz (CEO Shin Hye-sung) announced on the 28th that it will separate its corporation within the first half of this year and strengthen responsible brokerage. Currently, Wadiz operates its business mainly through a funding service (reward-based crowdfunding) where products and services are returned as rewards, and an investment service (investment-based crowdfunding) where investors share profits by investing in unlisted companies.

This corporate separation is being promoted to allow Wadiz, as an intermediary platform, to focus more on consumer protection in a situation where corporate social responsibility is increasingly emphasized. Once the corporation is separated within the first half of the year, the 'funding service' currently included in the subsidiary Wadiz Platform will be transferred to the parent company, Wadiz Corporation. The parent company, as a non-financial company, plans to focus on advancing the funding service through new businesses including Space Wadiz. The subsidiary, as a financial company, will focus on enhancing startup investment services through the direct investment company Wadiz Partners and the newly established 'Wadiz Finance (tentative name)'.

After completing the corporate separation within the first half of the year, Wadiz plans to proceed with the procedures for listing on KOSDAQ by next year. CEO Shin Hye-sung stated, "Wadiz has provided new opportunities to both companies and consumers by implementing a model that combines finance and distribution through crowdfunding," and added, "Through this corporate separation, we plan to develop services that more clearly meet the needs of companies, consumers, and investors."