Z Enterprise, a Korean startup operating the tax automation platform BizNep, has raised approximately USD 12 million(KRW 16.5 billion) in its Series C funding round, bringing its total accumulated investment to approximately USD 26 million(KRW 35.5 billion).

The round was led by the NH Digital Alliance Fund, jointly managed by NH Investment & Securities and NH Venture Investment. A strong mix of returning and new investors participated in the round, including Shinhan Venture Investment, Magellan Technology Investment, GNTECH Venture Capital, and K2 Investment Partners. Additionally, DSC Investment joined the round by acquiring shares previously held by Gorilla Private Equity Fund.

This latest funding is seen as a strong validation of Z Enterprise’s market position and technological capabilities within the fast-growing tax-tech sector. The active involvement of major financial institutions and venture capital firms reflects high confidence in the company’s platform, scalability, and innovative approach.

Z Enterprise posted solid performance in 2024, with revenue up 14% and operating profit surging by 164% year-over-year. The growth was driven by the stable expansion of key services such as BizNep Refund, a tax refund claim solution for businesses, and BizNep Care, a bookkeeping and filing support service.

Notably, BizNep Refund has quickly established itself as a market leader, reaching KRW 900 billion (USD 660 million) in total managed refund claims and serving 2.3 million registered businesses in just two years and eight months since launch.

The newly raised capital will be used to enhance BizNep’s core technologies and services while driving strategic growth initiatives. Key areas of investment include expansion of BizNep Care, increased marketing efforts, and strategic partnerships with financial institutions and major platform companies.

Z Enterprise also plans to elevate its AI-driven tax solution BizNep SeNa, expand offerings for corporate clients, and explore new business models leveraging big data—positioning itself as a comprehensive tax and finance platform.

An official from NH Investment & Securities commented, “Z Enterprise has strong growth potential and competitive differentiation in Korea’s tax-tech space. Its automation technologies and seamless collaboration with tax agents make it a standout. The subscription-based model offers long-term revenue stability.”

Z Enterprise CEO Lee Sung-bong remarked, “This investment reflects the market’s confidence in BizNep’s technology and business model. We will continue to innovate using AI, improve service quality, and strengthen branding to further solidify our leadership in the market.”