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한상넷 로고한상넷

전체검색영역
Kosdaq-listed SFC buys full stake in Korean P2P lending startup Villy
Collected
2017.11.07
Distributed
2017.11.08
Source
Go Direct
South Korea’s peer-to-peer (P2P) lending service startup Villy was acquired by Kosdaq-listed solar backsheet manufacturer SFC Co. for 11 billion won ($9.8 million), the company said Monday. It is the country’s first merger and acquisition (M&A) case for a P2P lending startup.

Founded in April 2015, Villy boasts 80.5 billion won worth cumulative loan, 36,000 cases of investment and 5,460 investors, 55.4 percent of whom are people in their 20s to 30s. Its reinvestment rate reaches 74.7 percent. Following the acquisition, Villy will be a subsidiary of SFC with its 100 percent stake owned by the latter.

An official from Villy expected SFC’s infrastructure, financial power and management expertise would help the P2P startup expand its business.

SFC, established in 1991, supplies its photovoltaic backsheets to large PV module producers not only in Korea but also in China, India and the U.S. In August, it took over a full stake in Donghae Sun Tech Co., a solar power plant constructor and energy storage system (ESS) provider, to expand its business scope to the renewable energy sector.

“The business collaboration with Villy in the rapidly-growing P2P lending sector would promote our company’s long-term growth,” an official from SFC said.

As of 12:11 p.m. on Tuesday, shares of SFC fell 0.18 percent to 2,745 won from the previous session.

By Oh Chan-jong and Choi Mira

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]