Korean startup Allra Fintech, which offers the early payment service “Allra,” announced on the 24th that it has successfully raised $9.1 million (KRW 12 billion) in its Series B funding round. In this round, KB Kookmin Card invested $6.8 million (KRW 9 billion), while Singapore-based VC ‘Altara Ventures’ and Vietnam-based VC ‘Do Ventures’ jointly invested $2.3 million (KRW 3 billion).
Allra Fintech stated, “With this investment, KB Kookmin Card has become our second-largest shareholder, enabling stable funding through a strategic partnership with a major financial institution. We are now well-positioned to accelerate the expansion of our financial services. The investments from Altara Ventures and Do Ventures further validate the potential of Allra Fintech’s vision and its ability to solve key challenges, even in global markets.”
Allra Fintech’s flagship service, “Allra Early Payment,” has significantly addressed settlement delay issues faced by online marketplace sellers. To date, the service has facilitated over $3 billion (KRW 4 trillion) in cumulative settlements, firmly establishing itself as a leader in the industry.
Kim Sang-soo, CEO of Allra Fintech, said, “Over the past four years, we have focused on maintaining the strengths of our ultra-simple early payment service. Even during the Timon-Wemakeprice crisis, we upheld our responsibility as a receivables transferee by refraining from demanding repayment from sellers. This commitment has earned us recognition as a reliable service in the industry, and we are truly grateful for this trust. With the Series B funding, we aim to expand into traditional wholesale and retail distribution markets, postpaid service markets, and global services starting in 2025. Our mission remains clear: to become a fintech company that solves the financial challenges of business owners everywhere.”
The Series B funding round officially closed in January 2025. With this investment, Allra Fintech is focusing on expanding its team and recruiting top talent to drive the development of innovative fintech solutions.
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- Allra Fintech
- Altara Ventures
- Do Ventures
- early payment
- EN
- Fintech
- funding
- KB Kookmin Card
- Korea
- Korean startup
- mega funding
- seriesB
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