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South Korea based peer-to-peer lending startup has raised $35m as an extension to its series B financing round, led by Lending Ark Asia Secured Private Debt Fund.
PeopleFund is the first, and currently the only, marketplace lender in Korea to receive foreign funding. The company says this signals “investor confidence in the company and the Korean market, where the government has designated Fintech growth as a top priority on the nation’s economic agenda.” “Lending Ark is proud to support the tremendous growth of PeopleFund,” commented Carol Lee Park (MD of Lending Ark). “As a debt investor and an equity shareholder, Lending Ark is looking forward to working with PeopleFund as a strategic partner to help the company achieve long term growth and success.”
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