news February 1st, headquarters is located in the Seoul capital of South Korea’s financial technology start-up company AIM announced a $1 million 600 thousand seed round of financing, investors including DT& I, Soorim, Seoul; Business, Agency and Startup Bootcamp AIM, it is reported that this round of financing, valuation of $7 million.
in addition to the local market in South Korea to further expand its mobile financial services platform, AIM also plans to use this latest investment for international expansion, mainly into the Asian market. According to the company’s co-founder and chief executive Jenna Lee said, they will be in the second half of 2017 to expand its services to Singapore and other countries (not to disclose the name of the country). Lee said:
our current strategy is to first carry out regional expansion, and then gradually expand the AIM financial services to the world. In fact, AIM is the first to raise funds in the field of financial technology industry in South Korea’s start-up companies, but there are few startups in the seed round stage to get $7 million valuation of the company.
Jenna Lee also emphasized that investors generally do not invest in the early stage of valuation of more than $5 million start-up companies, especially in the small size of the Korean market, so AIM won this round of financing is not easy.
AIM has developed a set of financial service system, so that ordinary people can establish contact with financial institutions, its users do not have to go through an intermediary or broker, only through their own intelligent mobile phone to engage in financial transactions or investments, to achieve the "democratization of financial service utilization technology". With Jenna Lee as saying, AIM services can reduce transaction costs to 1/40, and they not only use their own technical resources, but also to the efficient use of resources to broker.
at this stage, AIM platform is in the beta testing phase, they invited 300 users for business trial operation. However, Lee said that there are already more than 4000 users, as well as about $166 million in assets in the trial operation queue, waiting for the use of AIM services. But the company said they also want to get more users, so it may not be officially opened until May 2017. In addition, sources said, the company is seeking A round of financing is expected to be completed this year.