PeopleFund Raises 75.9 Billion KRW from Global Financial Firms Including Goldman Sachs... "Industry's Largest"

[Asia Economy Reporter Song Seung-seop] Online investment-linked finance (OnTu business) company PeopleFund has successfully raised 75.9 billion KRW in Series C funding from global financial institutions including Goldman Sachs.

According to PeopleFund on the 1st, the financial institutions participating in this funding round include lead investor Bain Capital, Goldman Sachs, and Lending Ark private bond fund. The cumulative investment amount is approximately 100 billion KRW, making it the largest scale in the industry. Goldman Sachs and Lending Ark will serve as advisors for institutional investor attraction.

The investment will be used for hiring AI technology personnel to advance credit evaluation algorithms and securing alternative data. They also plan to focus investment on credit evaluation technology based on acquiring the MyData license scheduled for the end of this year.

Kim Dae-yoon, CEO of PeopleFund, emphasized, "This investment is significant as it recognizes the opportunities in the Korean credit market and PeopleFund's growth potential from the world's top financial institutions," adding, "We will strive to grow as the number one non-bank financial institution in Korea and fully commit to innovating the traditional secondary financial sector."