Overseas remittance start-up 'gather', attract investment of 2 billion won

Overseas remittance specialist 'Moin' attracted investment of 2 billion won series A round.

On May 4, the company announced that it has invested 2 billion won from BEA Partners (Lead Investor), The Wells Investment, Ernest Ventures, Bokwang Venture Investment, Capstone Partners, and US Strong Ventures.

In October last year, Moin started offering services with the advantages of low fees, fast money transfer rates, transparent fee structure and easy application process. You can easily send money to PC or mobile. Regardless of device or operating system, once you authenticate yourself for the first time, you can easily send money abroad anywhere, like domestic remittance.

Lee Jong-seung, CEO of Bai-partner, said, "We are building efficient overseas remittance solutions using block-chain technology." Based on these technologies, we expect to become a leading player in the overseas remittance market in Asia "He said.

The group, which grew by an average of 138% over the previous quarter, is preparing to license overseas remittances under the revised Foreign Exchange Transactions Act.

After acquiring the license, Mowin will expand the remittance service to the existing Japanese and Chinese markets as well as Southeast Asia. In addition, we will launch an inbound remittance service that will enable us to send money from overseas to the domestic market to expand our business scope to Korean workers overseas.

"We will try to develop a more stable and efficient remittance system through investment funds," said Seo Il-suk, the head of the company.