JB Financial Group, Jeonbuk Bank, JB Investment will participate in the investment,
JB Financial Group signs strategic investment agreement with hanpass
The signing ceremony was attended by JB Financial Group Chairman Kim Ki-hong and hanpass CEO Kim Kyung-hoon.
JB Financial Group signs strategic investment agreement with hanpass
- Following 'Pinda', JB Financial Group signed a strategic investment agreement (SI) with 'hanpass' to expand its partnership with fintech platforms.
- Collaboration with hanpass to enhance competitiveness in foreign business and expand channels for foreign customers
- Purchase of mutual stakes in JB-Hanpass to build a shared growth ecosystem for financial groups and fintechs
JB Financial Group announced on July 21 that it has signed a strategic investment agreement with financial comparison platform 'Pinda' to partner with foreigners' overseas remittance platform 'Hanpass'.
JB Financial Group Chairman Kim Ki-hong and Hanpass CEO Kim Kyung-hoon take a commemorative photo after signing a strategic partnership on the 21st.
JB Financial Group Chairman Kim Ki-hong and Hanpass CEO Kim Kyung-hoon take a commemorative photo after signing a strategic partnership on the 21st.
JB Financial Group, Jeonbuk Bank, and JB Investment will participate in the investment, each acquiring a 5% stake in Hanpass, and JB Financial Group will acquire a 15% stake in Hanpass, making it the second largest shareholder. Meanwhile, HANPASS will utilize a portion of JB Financial Group's investment to purchase shares of JB Financial Holding in the market.
Founded in 2017, Hannpass is a fintech company specializing in small-scale overseas remittances, and has grown into a major domestic overseas remittance platform with about 570,000 foreign customers, 140,000 MAUs, and an annual remittance volume of about 1.4 trillion won in 22 years, and plans to pursue an initial public offering (IPO) based on its competitive services and sustainable growth.
JB Financial Group, which is expanding its financial business for foreigners centered on Jeonbuk Bank, plans to secure competitiveness in the foreign loan market based on its strategic partnership with Hanpass, which has a solid customer base among foreign platforms, and strengthen its foundation as a 'comprehensive financial company for foreigners' by launching financial products exclusively for Hanpass foreign customers and expanding digital financial services for foreigners.
JB Financial Group Chairman Kim Ki-hong and Hanpass CEO Kim Kyung-hoon attended the agreement signing ceremony and promised active cooperation for mutual synergy.
"As the innovation and growth of the Korean fintech industry is rapidly changing, it is becoming increasingly important for fintech companies to expand their services through partnerships with financial institutions," said Kim Kyung-hoon, CEO of Hanpass. "Through strategic collaboration with JB Financial Group, we will not only improve financial services in various areas such as foreign remittances, payments, and life services, but also promise continuous cooperation through the purchase of mutual stakes and seek mutual growth."
Kim Ki-hong, Chairman of JB Financial Group, said, "In the increasingly competitive domestic financial environment, banking as a service (BaaS) through fintech platforms is expected to expand further, and mutual cooperation between financial groups and fintechs is a new way for shared growth.