The Venture Codex

Led · Equity · Jul 2024

한국신용데이터 provides payment rails and POS solutions targeted at small-business owners and has built capabilities considered essential for its merchant customers. Over the past two years the company steadily raised more than ₩2,000억 and completed a Series D totaling ₩2,400억. Management says it invested aggressively in payment infrastructure, POS solutions, and talent acquisition, expanding headcount by more than 2x. Those moves supported rapid commercial growth: the company reports growing revenue more than 20-fold. The firm emphasizes continued customer focus and cautious execution, noting plans to keep helping merchant customers through the coming second half. The company framed its fundraising and operational choices as deliberate investments made while other firms pulled back. Korea Credit Data offers a bookkeeping super app for small and mid-sized enterprises called Cash Note (launched 2017) that aggregates cash flow, credit card sales, expenditure, sales ledgers and policy information. The company has added SME-focused lending services that connect merchants to working capital loan programs. KCD claims more than 1.7 million registered merchants and has grown its app into a widely used platform among small business owners. The startup has made strategic acquisitions including ImU (POS) and Persona (government subsidy alerts), and it has announced the acquisition of Fiserv Korea as part of a partnership. KCD plans to use the new capital to expand its 230-person team and pursue additional acquisitions. Financially, the company has raised about $112 million since its 2016 founding and its Series D has reached roughly $70 million after the latest extension, valuing the business at about $776 million. Korea Credit Data Co., Ltd. announced a KRW 40,000,000,000 funding round that closed on April 20, 2021. The transaction included participation from Pavilion Capital Pte. Ltd., KB Financial Group, GS Holdings, Kakao Ventures, and KT Investment. Pavilion Capital invested $20,000,000 (KRW 22,345,400,000) as part of the round. The company has raised KRW 60,000,000,000 in total to date. Post-closing, the enterprise value of the company exceeded KRW 400,000,000,000.

Participated · Series B · Aug 2022

Founded in 2018, AIRS Medical develops AI-native MRI software including SwiftMR, an AI-powered MRI acceleration and image enhancement solution, and SwiftSight, an MRI quantification and structured reporting platform. Together, these products span capabilities from image acquisition through clinical interpretation and are used in more than 6 million MRI exams annually. The company supports over 1,700 healthcare institutions across more than 40 countries. AIRS has positioned its platform to address capacity and workflow challenges faced by radiology providers and has seen growing adoption by healthcare organizations and academic institutions. The recent strategic investment from TA Associates is intended to accelerate product development and international expansion; financial terms were not disclosed.

Participated · Equity · Jun 2021

NHN Payco is a payments company that has launched a global mobile payment solution and participates in the government MyData project to let individuals control and use private data. The company said it will develop new financial services and data-driven solutions and aims to beef up its competitiveness in the fast-growing fintech sector. NHN Payco intends to roll out innovative financial platforms, according to CEO Jeong Yeon-hun. Financially, the company has attracted multiple large investments, most recently a 75 billion won funding round. In September 2017 the company previously received 125 billion won from GS Shop and Lee Joon-ho.