• Fri. Dec 9th, 2022

The Paper Plan

Latest News

Vietnamese financial API platform developer

Bytomasian

Oct 22, 2022

Infplus, a Vietnamese financial API platform developer, announced on the 20th that it has attracted 6 billion won worth of Series A investment.

Business partners Douzen and The Square & Company newly participated in the investment, while existing investors KB Investment and ID Ventures participated as follow-up investments.

Infplus, which has developed and serviced financial solutions in Vietnam since 2018, has conducted a total of two investment rounds since the establishment of a Korean corporation in 2020. The cumulative investment is 7.5 billion won.

Info API, provided by Infplus, is a platform that digitizes the financial community network of local financial firms and supports financial firms to provide digital financial services to corporate and individual customers. Infplus provides the platform to 4,200 local financial companies, including Korean financial companies that have entered the country.

The average monthly API usage is more than 3.7 million. Compared to 500,000 cases as of 2020, which is the beginning of the service, the growth is more than seven times. Infplus expects sales to be more than 12 billion won this year due to the business structure that receives fees per use.

Cho Chul-han, CEO of Durzen, who made strategic investments, said, “Infplus has developed and serviced its own financial API platform, which is hard to find in Vietnam,” adding, “We judged that it is perfect for Durzen’s global business expansion partner due to its solid R&D organization in Vietnam. He added, “We will expand Korea’s advanced financial IT technology to the world through synergy between the two companies.”

Kim Min-ho, CEO of InfoPlus, said, “We will make more efforts to ensure that Info API can be stably served to customers in Vietnam’s digital financial environment market, which has been accelerated by COVID-19,” adding, “We are encouraged to welcome strong strategic business partners who can expand their business to neighboring Indo-China.”

Leave a Reply