Silicon Valley-based Korean fintech startup Halfmore announced that it has successfully attracted additional investment, securing a cumulative USD 2.51 million (KRW 3.5 billion) in funding.

This investment round was led by DEEPCORE, an AI investment-focused venture capital firm and a subsidiary of SoftBank Group. Ian Brady and Dan Macklin, co-founders of the leading US consumer finance platform SoFi, Peter Francis, former chairman of J.M. Huber Corporation, and Se-hyuk Park, co-founder of global tech company Moloco, also participated in the investment.

Halfmore plans to accelerate its service expansion within the US and advance its AI-based family financial management platform with these new funds.

Halfmore is a platform that makes asset management methods, previously exclusive to ultra-high-net-worth individuals, accessible to general households. Parents can register their children in a family employment structure to generate earned income, which then supports the opening of a “Custodial Roth IRA” retirement account for children. The entire legal and tax process is automated by AI. Since its launch in October last year, it has generated approximately USD 50 million (KRW 70 billion) in retirement assets within 12 months, drawing attention as an alternative to the US retirement crisis.

This investment is a result of global investors highly valuing Halfmore’s growth potential. The participation of DEEPCORE, a venture capital specializing in AI and actively investing in promising early-stage startups, as the lead investor is particularly significant. This investment is noteworthy as it lays the groundwork for Halfmore to develop a long-term collaborative relationship with SoftBank Group Corp.

It is also considered unusual that SoFi co-founders Ian Brady and Dan Macklin invested simultaneously in their personal capacities. The participation of the two co-founders signifies that Halfmore’s business model is unique and has high growth potential. They will also join as advisors to support Halfmore’s strategic growth.

A DEEPCORE investment representative stated the investment background: “Halfmore is showing strong performance in its early stages and has a long-term vision to expand beyond retirement assets to broader financial wellness, with sufficient potential to become a fundamental platform for children’s long-term financial future.”

Ian Brady highly praised Halfmore, saying, “The Halfmore founders possess a rare combination of focus and execution, demonstrating a practical approach that aligns with the belief that technology can reshape financial services.”

Currently operating services in 14 US states, Halfmore plans to expand to 20 states by the end of this year and to all 51 US states within two years. By the end of this year, it plans to launch a dedicated savings account product for education expenses, and next year, it intends to expand into investment products for children and services linking healthcare and education expense payments. In the long term, it aims to build a “household expenditure financial operating system” that integrates and manages various expenses incurred during child-rearing. To achieve this, it is currently discussing collaborations with numerous fintech companies and plans to announce official partnerships within the year.

Ju-hyun Lee, CEO of Halfmore, said, “This investment round is a significant milestone, as it acknowledges the achievements and potential of a Korean founding team in the US market from global investors. We will continue to integrate AI and fintech technologies to help all families more easily resolve financial concerns experienced during child-rearing.”