It was announced that ‘Early Pay’, an integrated sales selection service for small business owners, received an encouragement award at the 5th Fintech Idea Contest.
The Fintech Idea Contest is hosted by the Financial Services Commission and organized by the Korea Fintech Support Center. This is a contest to support the commercialization of creative and innovative fintech ideas. Companies with fintech-related business models or business and technology ideas are selected.
This 5th contest recruited companies with novel and diverse ideas on topics such as authentication, financial security, AI, blockchain, and asset management. Early Pay presented an idea for a new business model in the payment field.
A total of 16 teams from among the supporting companies were selected and awarded, and Early Pay received an encouragement award. The winning companies will receive a total of 100 million won in prize money and special benefits for idea commercialization and startup support.
Early Pay is a fintech startup that provides a pre-calculation service that settles all sales from card sales at offline stores to delivery apps the next day. Since its launch in December last year, it has shown an explosive subscription growth rate of more than 1,000%.
Jang Hwan-seong, CEO of Early Pay, said, “Through this contest, it was an opportunity to once again confirm the creativity and potential of offline pre-sale services,” and expressed his ambition, “Furthermore, we will continue to do our best for the survival and development of small business owners.”
Meanwhile, Early Pay was selected for the 2022 KB Unicorn Club and Early Startup Package, jointly run by the Gyeonggi Center for Creative Economy and Innovation and KB Kookmin Bank, and will receive support for growth such as customized mentoring, corporate information session (IR) consulting, business linkage, and demo day. is receiving.
Source: Pangyo Techno Valley Official Newsroom
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