PeopleFund Sets Eyes on Global Expansion with Announcement of Securing Korea's First Foreign Funding for a Marketplace Lender
Summary
PeopleFund is the first, and currently the only, marketplace lender in Korea to receive foreign funding, signaling investor confidence in the company and the Korean market, where the government has designated Fintech growth as a top priority on the nations economic agenda. PeopleFund is uniquely positioned as the first and only player in Korea to fully integrate with a top-tier commercial bank to process consumer loans securely within the national financial system. "As a debt investor and an equity shareholder, Lending Ark is looking forward to working with PeopleFund as a strategic partner to help the company achieve long term growth and success. In addition, PeopleFund announced a strategic partnership with Kakaopay corp. in 2018, making it the first marketplace lender to offer investment products directly on the popular messaging app. It is the first and only Korean marketplace lending platform to fully integrate with a top-tier commercial bank to process personal and business loans securely within the national financial system.