Villy, a P2P fintech startup, was acquired on November 3rd by KOSDAQ-listed company SFC for USD 10 million. Villy became a wholly owned subsidiary of SFC.
Villy recently announced: “This is the first case of a fintech startup getting acquired by a listed company. It will be a great opportunity to grow into a large P2P financial platform by using the infrastructure, financial strength and professional management of a listed company.”
Founded in April 2015, Villy currently has provided its customers with cumulative loans of USD 76 million, including 36,000 investments from 5,460 investors. 55.4% of the investors are in their twenties or thirties.
SFC, established in 1991, specializes in producing backsheet for solar modules. This past August, the company acquired a 100% stake in Donghae Suntech, a company that focuses on solar power plant construction and energy storage equipment (ESS), in order to expand its renewable energy business. Currently, SFC is promoting solar power generation (EPC) projects both in domestic and global markets due to its recent expansion into the renewable energy business.
(Top photo from Pixel.)
This article, entitled “Fintech startup Villy acquired by solar power company SFC at USD 10M”, was written in Korean by Minjung Kim of Platum, edited by AllTechAsia.