Ernest Fund Secures 5 Billion KRW Investment from Jinwon Group

Online investment-linked finance company Honest Fund announced on the 11th that it has attracted an investment of 5 billion KRW from Jinwon Group. This is the first new investment attraction in about two years since 2021. The total accumulated investment amount is 44.2 billion KRW.

This investment aims to create synergy between Honest Fund's AI (artificial intelligence) technology and SCI Evaluation Information, a subsidiary of Jinwon Group. SCI Evaluation Information, while seeking partners with excellent financial technology, recognized the technological capability and growth potential of Honest Fund's AI-based solutions.

The investment funds will be used for expanding infrastructure for AI-based financial technology research and advancement, developing new financial products, and services. Starting with this investment, the two companies will gradually expand their strategic business partnership to include joint development of CB (credit bureau) based services, advancement of AI-based bond management systems, and linked investments.

Jinwon Group, the investor, has 11 financial and real estate subsidiaries including Jinwon ENC, a real estate development company, SCI Evaluation Information, a comprehensive credit information company, Seoul Credit Rating, J1 Capital Invest, and J1 Asset Management.

Seosanghoon, CEO of Honest Fund, said, “In the rapidly changing financial industry based on non-face-to-face platforms, the importance of technology utilizing data is highly emphasized. I am confident that the strategic investment partnership with Jinwon Group will not only maximize the synergy between the two companies but also serve as a signal for a quantum leap leading to risk management and credit solution businesses, where business growth will become visible this year.”