# MOIN

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

- Industry: Financial Services
- Headquarters: Seoul, South Korea
- Website: www.themoin.com
- Total disclosed funding: $16M
- Latest round: Series B (Mar 3, 2022)
- Investors on record: 13

## About

Based in South Korea, MOIN, Inc. operates as a financial technology company specializing in overseas remittance services, providing an efficient platform for seamless international money transfers.Founded in 2016, MOIN, Inc. is headquartered in Seoul, South Korea, and focuses on remittance services. The company has successfully completed five funding rounds with its most recent deal on March 3, 2022, where it raised KRW 17.2 billion in Series B funding from both returning and new investors. The CEO and founder, Ilseok Suh, has a background in the tech industry, contributing to the development of MOIN's innovative platform.MOIN offers a streamlined overseas remittance service targeting individuals and businesses seeking an efficient means of transferring money internationally. The platform allows users to send funds to 47 countries, including Japan, the United States, and Australia, without the need for intermediary banks, significantly reducing associated fees. Customers can utilize the service through a user-friendly app that facilitates quick transactions, often completed within a day, and in as little as five minutes for sending requests. MOIN's offerings include competitive exchange rates and low transaction fees, appealing particularly to international students and individuals engaged in cross-border transactions. The company emphasizes security, boasting advanced technologies and insurance coverage for its operations, enhancing consumer trust.MOIN generates revenue primarily through transaction fees associated with its remittance services. Clients are charged a fee of 14,600 KRW for each transaction, which is significantly lower than traditional banking options. These fees allow MOIN to maintain a competitive edge in the market while providing substantial savings to users, often amounting to nearly 50,000 KRW less than standard banking fees. The business operates on a direct-to-consumer model, targeting both individual users and specific customer segments, such as international students who require frequent remittance services. By leveraging real-time exchange rates, MOIN ensures transparency in transaction amounts, fostering customer loyalty and repeat usage, positioning it favorably against traditional banking institutions in the growing digital remittance market.In March 2022, MOIN, Inc. raised KRW 17.2 billion in Series B funding. The company plans to utilize this funding to enhance its overseas remittance service and expand its operations globally. MOIN aims to introduce new product features designed to streamline user experience and improve transaction efficiency. Additionally, the company is targeting new markets for expansion, though specific regions have not yet been disclosed. With the recent funding, MOIN is poised to accelerate its growth and better serve its customer base.

## Funding rounds

- Series B, Mar 3, 2022, $14M — Capstone Partners, Shinhan Capital, Strong Ventures, Coolidge Corner Investment, BA Partners, QUAD Ventures, Honest Ventures, COMES Investment, Ryukyung PSG Asset Management, InziSoft Co.,Ltd., Hecto Financial Co., Ltd.
- Series A, Dec 5, 2017, $1.8M — Bokwang Venture Capital, Capstone Partners, Strong Ventures, The Wells Investment, BA Partners

## Investors

- Bokwang Venture Capital (https://capitalatlas.ai/funds/bokwang-venture-capital) — Series A
- Capstone Partners (https://capitalatlas.ai/funds/capstone-partners) — Series A, Series B
- Strong Ventures (https://capitalatlas.ai/funds/strong-ventures) — Series A, Series B
- The Wells Investment (https://capitalatlas.ai/funds/the-wells-investment) — Series A
- BA Partners (https://capitalatlas.ai/funds/ba-partners) — Series A, Series B
- Shinhan Capital (https://capitalatlas.ai/funds/shinhan-capital) — Series B
- Coolidge Corner Investment (https://capitalatlas.ai/funds/coolidge-corner-investment) — Series B
- QUAD Ventures (https://capitalatlas.ai/funds/quad-ventures) — Series B
- Honest Ventures (https://capitalatlas.ai/funds/honest-ventures) — Series B
- COMES Investment (https://capitalatlas.ai/funds/comes-investment) — Series B
- Ryukyung PSG Asset Management — Series B
- InziSoft Co.,Ltd. — Series B
- Hecto Financial Co., Ltd. — Series B