# Cashnote

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cashnote

- Industry: Software
- Headquarters: Seoul, South Korea
- Website: www.kcd.co.kr
- Total disclosed funding: $110M
- Latest round: Series D (Aug 24, 2023)
- Investors on record: 13

## About

Based in South Korea, Korea Credit Data Co., Ltd. specializes in providing data-driven financial management solutions for small and medium-sized enterprises (SMEs), enhancing their operational efficiency and financial oversight through its innovative platform, Cashnote.Korea Credit Data Co., Ltd. was founded in 2016 and is headquartered in Seoul, South Korea. The company focuses on delivering comprehensive financial management services to SMEs. Recently, on August 24, 2023, Cashnote completed a Series D funding round, raising KRW 100 billion from Morgan Stanley Investment Management. This round is part of a total of KRW 175 billion raised in Series D funding. The company has engaged in a total of 13 deals to date. The current valuation of Cashnote is KRW 1,300,000 mn.Korean Credit Data (KCD) offers data-driven management services tailored for SMEs in South Korea, primarily through its flagship product, Cashnote. This platform provides comprehensive financial management tools, including bookkeeping, financial analysis, and market insights, aimed at simplifying financial oversight for business owners. Cashnote connects users with critical transaction data, facilitating informed decision-making and strategic planning, catering to approximately 1.6 million business owners across various sectors.KCD generates revenue through a subscription-based model focused on Cashnote, where business clients pay monthly or annual fees for access to the suite of management tools. The company has established partnerships with financial institutions and other enterprises to diversify its service offerings and enhance revenue streams, benefiting from the rising adoption of digital solutions among SMEs. KCD's tailored financial services aim to meet the evolving demands of business management.In August 2023, Cashnote raised KRW 100 billion in Series D funding, led by Morgan Stanley, to be used for upgrading its mobile platform and providing customized services for small businesses. The company plans to enhance its product offerings and is exploring expansion into new markets. Specific geographic regions targeted for growth have not been detailed, but the firm is likely considering regional opportunities.

## Funding rounds

- Series D, Aug 24, 2023, $75M — Morgan Stanley Investment Management
- Series D, Nov 18, 2021, $34M — KB Kookmin Bank, KB Securities, GS Retail, Ryukyung PSG Asset Management, KClavis Investment
- Series B, May 2, 2018 — Kolon Investment, Bass Ventures, Dunamu & Partners, Shinhan Card
- Seed, Dec 1, 2016, $0.4M — Kakao Ventures, D.CAMP (inactive)
- Seed, Nov 1, 2016, $0.4M — Kakao Ventures, Korea Tech Incubator for Startup

## Investors

- Kakao Ventures (https://capitalatlas.ai/funds/kakao-ventures) — Seed
- Korea Tech Incubator for Startup — Seed
- D.CAMP (inactive) — Seed
- Kolon Investment (https://capitalatlas.ai/funds/kolon-investment) — Series B
- Bass Ventures (https://capitalatlas.ai/funds/bass-ventures) — Series B
- Dunamu & Partners (https://capitalatlas.ai/funds/dunamu-partners) — Series B
- Shinhan Card — Series B
- KB Kookmin Bank — Series D
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series D
- GS Retail — Series D
- Ryukyung PSG Asset Management — Series D
- KClavis Investment (https://capitalatlas.ai/funds/kclavis-investment) — Series D
- Morgan Stanley Investment Management — Series D