It was reported that Early Pay was selected for the ‘MetLife Inclusion Plus 5.0’ program, which recruits social innovation companies.
Early Pay is a fintech startup that provides a pre-settlement service that settles all sales generated at offline stores and through delivery apps the next day.
MetLife Inclusion Plus is run by Korea Social Investment under the auspices of the MetLife Foundation and is Korea’s only financial inclusion-themed accelerator and impact investment program that has been running since 2018. Social ventures, social enterprises, and non-profit organizations that provide solutions to social problems related to financial inclusion of various classes such as youth, small business owners, migrant workers, and platform workers participated.
In this program, customized mentoring from professional accelerator ‘MYSC (MY Social Company)’ will be provided for four months, as well as IR and table meeting opportunities with 15 impact investors.
Additionally, the two companies selected through Demo Day will be given the opportunity to receive impact investment worth a total of 200 million won. A total of 70 million won worth of business support will be provided to other companies.
Jang Hwan-seong, CEO of Earlypay, said, “We will innovate the financial supply chain centered on small business owners while creating an environment where they can focus only on sales. We will become a social enterprise that contributes to improving the financial health of small business owners and sustainable economic growth of self-employment.” He stated his goal.
Meanwhile, Early Pay was selected for the 5th program of ‘KDB NextONE’, a startup incubation program of Korea Development Bank, following its selection as the 2022 KB Unicorn Club and initial startup package jointly run by the Gyeonggi Center for Creative Economy and Innovation and KB Kookmin Bank. The company is receiving support for growth, including customized mentoring, corporate briefing (IR) consulting, business connection, and demo days.
Source: Pangyo Techno Valley Official Newsroom
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