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| KB Kookmin Card CEO Lee Dong-cheol, right, with Wadiz CEO Shin Hye-sung after forging strategic ties at KB Card's headquarters in Seoul, Tuesday. Courtesy of KB Kookmin Card |
By Park Hyong-ki
KB Kookmin Card has forged an alliance with Wadiz, a local crowdfunding platform, to develop new businesses with startups, the two companies said Tuesday.
They will also launch a 1 billion won ($850,000) venture capital fund to invest in fintech startups.
KB Kookmin Card said the startups will be able to use the card company's infrastructure to build and commercialize their businesses using big data.
The card firm and Wadiz will also support them to market their products and services.
The startups will be able to use Wadiz's platform to attract investors and finance their commercialization, the crowdfunding firm said.
This comes after KB Financial Group launched an innovation committee that will serve as its control tower for innovation and investment.
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