South Korea-based online lending marketplace HonestFund has completed a $12m series B round that included Dunamu & Partners, the venture capital subsidiary of cryptocurrency trading platform Dunamu.
KB Investment, a subsidiary of financial holding company KB Financial Group, also participated in the round, along with venture capital firm Murex Partners, TL Asset Management, Bass Investment and HB Investment.
Founded in 2015, HonestFund has created an online marketplace that provides individuals and businesses with loans. It will use the series B funds to hire more staff and develop core technologies based on artificial intelligence.
The company had also raised $5.3m from Hanwha Investment, a subsidiary of business conglomerate Hanwha Group, as well as banking group Shinhan and KB Investment, in October 2016 as part of a series A round it said this week was $9m in size.