South Korean WireBarley Secures $10 Million By Sequence B Funding Spherical

WireBarley, a South Korean fintech targeted on international remittance providers, introduced on Thursday it secured $10 million by way of its Sequence B funding spherical from  Magna Funding, Shinsegae I&C, and Dt & Funding.

WireBarley describes itself as a cash switch startup that gives totally contactless monetary providers by way of its cellular app and net platform. The corporate is now working in 5 international locations, the U.S., Canada, Australia, South Korea, and New Zealand with 21 recipient international locations and has established a powerful international community with 80 remittance corridors with reasonably priced charges, quick switch speeds, and pleasant customer support. 

WireBarley reported with the funding it’ll strengthen its international remittance service capabilities for particular person clients and increase into the B2B discipline.

“Hong Kong will launch in October and extra recipient international locations together with these in Europe and the Center East will probably be added sooner or later. Moreover, WireBarley will spend money on creating and launching new merchandise over the following few months such because the Multi-Forex Pockets providers and extra banking providers for North America.”

WireBarley additionally lately introduced it’s providing a Zero-Charge coverage for all 20 outbound corridors from South Korea in addition to from the US to South Korea. The corporate can also be rolling out it international model advertising marketing campaign that includes South Korean actor Lee Solar-Gyun to strengthen its model and drive extra enterprise. WireBarley added:

“WireBarley gained greater than 400,000 app downloads and gathered nicely over than $400 million in income thus far. It’s nicely on monitor to changing into a frontrunner in international remittance in each the Asia-Pacific and North America.”