Crowdfunding company, Wadiz, raised USD 11 million from a recent investment round that closed on September 22. In this round, venture capital firms such as Stic Investment, Smilegate Investment, Korea Investment Partners and L&S Venture Capital participated, as well as Shinhan Bank, a first-tier Korean bank.
Wadiz plans to expand in the alternative investment field with the funds raised from this Series B round. In addition to strengthening its market share in securities-type crowdfunding and reward-type crowdfunding, they have also expanded their funding to the energy and lifestyle sectors, in order to become a unique platform service rather than a simple crowdfunding service.
Wadiz also plans to expand to the global market. Strategic partnerships with companies in foreign countries will provide opportunities for Korean companies in foreign markets and opportunities for Korean investors to invest in them. At the same time, Wadiz plans to actively recruit new talent for its team.
Jung-Hyun Kim, Director at Korea Investment Partners, who led this investment round, said, “With the recent rise of Internet Banks such as Kakao Bank and K Bank, we saw Wadiz’s potential as a leading player in the online financial service sector. We believe that Wadiz will grow as one of the leading crowdfunding players, even in the global market.”
Hye-Sung Shin, CEO of Wadiz, mentioned, “I think that the efforts we made to make the world a better place by investing in innovators who wish to change the world has led to this Series B round. We will make every effort so startups will become Korea’s new economic force and contribute to job creation”.
(Top photo from Baidu Images)
This article, entitled “Crowdfunding startup Wadiz raises USD 11M to partner with foreign companies”, was written in Korean by Minjung Kim of Platum, edited by AllTechAsia.