In South Korea, there are about 7.3 million small and medium-sized enterprises (SMEs) — defined as firms with less than 250 employees. Their workforces combined make up 83.1% of all corporation employees in the country, totaling about 17.1 million people, according to OECD data.
To help meet SMEs’ financial needs in the country, Seoul-based fintech startup Korea Credit Data (KCD) said Thursday that it has raised $24.7 million in Series D extension financing.
Strategic investors — Fiserv, a Nasdaq-listed fintech company, and LG Uplus, a telco unit of LG Corporation — participated in the extension round. In total, KCD has raised about $70 million in its Series D round and about $112 million since its 2016 inception, said CEO of KCD Kelvin Dongho Kim.
The latest financing values the company at approximately $776 million (1.1 trillion KRW). KCD was valued at about $563 million in November last year when it raised $28.1 …
