Real estate P2P startup TeraFunding raises USD 10M to reinforce risk-management

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TeraFunding, a real estate P2P financial firm in Korea, announced that they closed USD 10 million series A funding from Woori Bank, Atinum Investment, SBI Investment, and Premier Partners.

TeraFunding is an online platform for small investors to provide first-tier small and medium sized construction loans to businesses.

The company received USD 1.2 million in seed funding from Bon Angels Venture Partners and angel investors in January 2016. The total amount of funding TeraFunding raised amounted to USD 11 million.

It is the largest amount of Series A round funding that a Korean startup in the P2P industry has raised. It also means that TeraFunding is acknowledging the stability and scalability of its business.

Financial companies who invest in TeraFunding focus on loan evaluation models for small and medium sized properties and differentiated risk management capabilities, such as USD 226 million total in loans, USD 129 million total in redemption, a 12.45% rate of yield to average, a 0.34% default rate, and a 0% bond delinquency rate.

Atinum Investment, the lead investor of this round of funding, stated “We set a high value on solving blind areas of the real estate finance industry that have fallen behind.” Woori Bank also mentioned “TeraFunding created a new paradigm of P2P finance based on ICT (information and communications technology).

TaeYoung Yang, CEO of TeraFunding, said “Our team has been accomplishing a lot for risk management to protect investors for the last three years. We plan to enhance the evaluation system by expanding the talent recruitment and reinforcing our risk management so that TeraFunding ultimately jumps up to be the number one leader in the finance industry.”

(Top photo: TaeYoung Yang, CEO of TeraFunding)

This article, entitled “Real estate P2P startup TeraFunding raises USD 10M to reinforce risk-management”, was written in Korean by Platum, edited by AllTechAsia.

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