South Korea-based peer-to-peer lending platform Terafunding has revealed $18m in series B capital raised last month from investors including residential construction company Woomi Construction.
Financial services firms IBK Industrial Bank and Hana Financial Group, through its corporate venturing unit Hana Ventures, also took part in the round, as did investment firm KB Investment.
Founded in 2015, Terafunding operates a peer-to-peer lending marketplace focused on real estate, targeting local developers who have had limited access to traditional loans from financial services providers.
The money will drive recruitment with a focus on experts in real estate, finance and IT, as Terafunding hopes to accelerate development of its project screening systems and risk management processes.
Terafunding previously closed a $10m series A round in January 2018 from financial services firm Woori Bank and SBI Group’s SBI Investment unit, as well as Atinum Investment and Premier Partners.
Bon Angels Venture Partners and assorted private investors had supplied $1.2m in seed funding in 2016.
