TLDR:
– South Korean fintech startup, Travel Wallet, raises $10 million from Lightspeed.
– Lightspeed’s investment marks its first in a South Korean company and Travel Wallet’s first global VC funding.
South Korean-based fintech startup, Travel Wallet, has secured a $10 million investment from Lightspeed, a global venture capital firm. This marks Lightspeed’s first investment in a South Korean company and Travel Wallet’s first time attracting capital from a global VC. Lightspeed, known for its investments in enterprise startups, has diversified its portfolio to include startups with competitive advantages across various sectors such as enterprise, consumer, healthcare, and fintech.
Pinn Lawjindakul, Partner at Lightspeed, expressed confidence in Travel Wallet’s expertise in the foreign exchange market and payment technology, citing positive feedback from industry practitioners and customers. Travel Wallet’s innovative cloud technology has garnered global recognition, enabling the company to amass a cumulative transaction amount exceeding 3 trillion KRW ($2173M). The company plans to leverage Lightspeed’s global network to drive its next phase of growth and pursue international expansion.
Travel Wallet’s CEO, Hyoungwoo Kim, emphasized the company’s commitment to transforming daily travel experiences through their technology. With the support of global investors like Lightspeed, Travel Wallet aims to continue its growth trajectory and enhance its presence in the fintech market.
