Fin2B (http://fin2b.com) was established by financial experts who worked for the Boston Consulting Group (BCG), a global management consulting firm, at the end of 2015. In addition, Park Sang-soon, a former head of the Financial Division of Seoul Office of BCG and Min Eung-joon, a former executive at LG U+ and a former CEO of Danal Co. are serving as co-CEOs of Fin2B.
This is why Fin2B is called a company with a super-good talent team in the fintech start-up industry. Fin2B actively utilizes “supply chain financing” (SCF) to meet the financing needs of small and medium-sized enterprises (SMEs). Supply chain financing is a way in which small and medium-sized business partners are more efficiently financed by making good use of a variety of business assets that arise from business relationships with large companies. Business assets that SMEs can use as a means for financing include trade receivables, inventories, and cash from business relationships.
Fin2B is currently focusing on three financial platform business items. First of all, the platform that serves as the foundation for Fin2B is a trade receivable discount platform. The platform supports the financing of SMEs by utilizing extra funds of institutional investors or purchasing companies. This platform is currently being commercialized after the completion of development.
The second is a future cash flow-based lending platform. It is a platform for online sellers. It is a platform to broker early settlement and credit loans by utilizing their transaction and settlement data, CB data and other big data. It is currently under development. Fin2B is planning to start the service in earnest within this year.
The final platform is an inventory financing platform. Fin2B will provide inventory-backed loans under reasonable conditions based on capabilities to evaluate the value of inventory assets, inventory monitoring technology, and ability to secure buyers of inventories.