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U Fintech Hub raises $4m to fuel global expansion

By Leandra Monteiro

July 07, 2023

  • Capital Funding
  • Expansion Plans
  • FinTech
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U Fintech Hub, U Fintech Hub Inc, a South Korean FinTech Company, announced that it has raised $4 million in a recent capital funding round.

The investment was led by Forest Partners, a venture capital firm.

With this recent funding round, the company has now raised approximately $10 million in capital, positioning it for continued growth in the FinTech industry.

Commenting on the successful funding round, Jaepyo Lee, CEO of U Fintech Hub Inc said, “Utransfer has been operating its current remittance and exchange services stably based on its own financing without external investment. This investment allows us to fully implement our long-standing global growth strategy.”

The $4 million raised in this funding round will be utilised to support the company’s long-term global strategies and fuel its ongoing expansion. The investment will provide the company with the necessary flexibility to navigate challenging market conditions and further develop innovative products and solutions.

Seung Han, CEO of Forest Partners said, “We expect Utransfer to grow into an Asian fintech company representing Korea in the future.”

U Fintech Hub operates the global remittance platform ‘Utransfer’, which specialises in B2B and C2C remittance services, local payouts, money exchange services, and a wide range of other business scopes related to foreign currencies.

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