One of the venture capital firms involved was DSC Investment, while the other two have yet to be revealed.
Founded in November 2014, 8Percent is one of 175 P2P lending platform operators to have obtained a license from financial authorities as of the end of August.
In Korea, P2P platforms are considered one of the alternatives to borrowers with midrange credit scores, possibly reducing maximum interest rates for loans to nearly half compared to savings banks. At the same time, investors into borrowers’ notes can expect yields higher than those in bank deposits or savings account.
By Son Ji-hyoung