South Korean FinTech Finda, which operates as a prominent loan comparison platform in the nation, has successfully closed a $37m Series C funding round. Finda has secured $37m in this funding round, with significant investment coming from JB Financial Group and 500 Global, according to a report from FinTech Futures. Founded in 2015, and headquartered in Seoul, Finda has
Consumer finance retains attractiveness
Consumer finance groups are attempting to diversify funding sources
According to a report by brokerage SSI Research, HD Saison - the consumer finance arm of HDBank and Japanâs Credit Saison - will enjoy an increase of 15 per cent on-year in its profit for 2021, reaching VND1.15 trillion ($50 million).
Although there are still areas of concern associated with new cash loans disbursed in 2020, HD Saisonâs board also expected that this year, loans to buy motorbikes and home appliances will rise, especially when customer incomes increase along with economic recovery.
The report also showed that cash lending activities of HD Saison has increased strongly in the past year (up 47.8 per cent). SSI Research believed that this is a remarkable point because this is a segment that often has a higher non-performing loans ratio than motorcycles and home appliances loans.