Naver Financial Corp. Valuation, Funding & Investors

Naver Financial Corp. is valued at $2.3B as of December 2019.

Last Naver Financial Corp. valuation

$2.3B

Strategic investment · Dec 2019

Last Naver Financial Corp. funding round

$681M

Strategic investment · Dec 2019

Cumulative funding Naver Financial Corp. raised

$681M

across 1 funding round

Key investors in Naver Financial Corp.

  • Mirae Asset Securities

Naver Financial Corp. Overview

About Naver Financial Corp.

Naver Financial Corp. is a financial technology subsidiary of Naver Corporation that delivers digital payment, lending, insurance, securities trading, and real estate services across South Korea. It operates Naver Pay, a mobile wallet integrated with over 3 million offline merchants and major banks like Shinhan and KB Financial Group. The company provides Line Pay in Japan through its partnership with Line Corporation and offers tools such as interest-bearing savings accounts, peer-to-peer transfers, and unlisted stock marketplaces. Headquartered in Seongnam, South Korea, Naver Financial Corp. supports small businesses with low-fee payment terminals that handle coupons, reviews, and loyalty points while expanding insurance comparisons for auto and travel policies.


Founded

2019

HQ

South KoreaSeongnam

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Commission

Valuation

$2.3B (Dec 2019)

Naver Financial Corp. Valuation

Naver Financial Corp. is currently valued at $2.3B, based on its strategic investment round in December 2019.

The $681M round was led by Mirae Asset Securities.

Naver Financial Corp. valuation by funding round

Naver Financial Corp. valuation by funding round
DateStageValuation
Dec 2019Strategic investment$2.3B

Naver Financial Corp. Funding History

Naver Financial Corp. has raised a total of $681M across 1 funding round.

Naver Financial Corp. funding rounds

Naver Financial Corp. funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2019Strategic investmentMirae Asset Securities (lead)$681M$2.3BNaver Financial Corp., established in November 2019 as a financial arm of Naver, Korea’s leading portal operator, attracted an investment of 800 billion won ($683 million) from Mirae Asset Financial Group, specifically Mirae Asset Daewoo and three affiliates, announced on December 13, 2019. The deal involved issuing 428,571 new shares next month to these investors, positioning Naver Financial to sell financial products in collaboration with financial companies starting in 2020. This investment was noted as Mirae Asset Daewoo's participation in the spin-off of Naver Financial to create a leading payments and financial products platform. Mirae Asset's strategic partnership with Naver emphasizes digital innovation and balanced investment portfolios including Naver Financial. The transaction occurred amid growing competition in Korea's fintech sector, fueled by regulatory support including a planned 300 billion won government fund to help fintech startups reach unicorn status (over $1 billion valuation) and a regulatory sandbox exempting innovative fintech services using blockchain and big data from strict rules since the previous year.

Who has invested in Naver Financial Corp.?

1 investor has backed Naver Financial Corp. across its funding rounds, including Mirae Asset Securities.

Lead investors include Mirae Asset Securities.


Naver Financial Corp. Investors

Investors in Naver Financial Corp. by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Naver Financial Corp.

Naver Financial Corp. has acquired 1 company to date.

Last acquisition by Naver Financial Corp. was on November 26th 2025. Naver Financial Corp. acquired Dunamu for $10B.


Latest Acquisitions by Naver Financial Corp.

Dunamu
Description
Dunamu is a Seoul-based fintech operator of Upbit, the largest cryptocurrency exchange in South Korea with over 10 million users. It also runs Stockplus for securities trading partnered with 11 broker-dealers, U-Stockplus for OTC private company shares, and Onboard for electronic equity management. Upbit extends to Indonesia, Thailand, and Singapore markets. Founded in 2017, Dunamu processes daily trading volumes surpassing $2 billion across platforms.
HQ CountrySouth Korea
HQ City
Seoul
Deal Date26 Nov 2025
Valuation$10B
EV/Revenue
EV/EBITDA

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Investments by Naver Financial Corp.

Naver Financial Corp. has invested in 4 companies to date.

Latest investment by Naver Financial Corp. was on March 22nd 2023. Naver Financial Corp. invested in Kredivo Group in their $270M Series D round.


Latest Investments by Naver Financial Corp.

Kredivo Group
Z Enterprise
TBCASoft
Z Enterprise
Description
Kredivo Group is a Jakarta-based fintech conglomerate formerly FinAccel, providing digital credit services across Southeast Asia through Kredivo, KrediFazz, and Krom brands. Its flagship Kredivo app delivers buy-now-pay-later options for e-commerce platforms like Tokopedia and Shopee in Indonesia and Vietnam, with limits up to IDR 30 million based on real-time AI underwriting. The group processed over USD 2 billion in transactions in 2022.
Z Enterprise is a Seoul-based fintech firm offering corporate financing, tax automation software, and mobile banking apps. Founded in 2017, it serves 5,000 SMEs with AI-driven loan approvals under KRW 10 billion and cloud ERP integrated with Korean tax authorities, processing 1 million transactions monthly.
TBCASoft is a Silicon Valley-headquartered blockchain platform developer targeting telecom and fintech interoperability. Its HIVEX solution enables seamless connections between mobile wallets and payment services for carriers worldwide. Deployed with partners like Telefónica and MTN, it supports value-added services such as cross-border remittances and merchant acceptance expansion.
Z Enterprise is a Seoul-based fintech firm offering corporate financing, tax automation software, and mobile banking apps. Founded in 2017, it serves 5,000 SMEs with AI-driven loan approvals under KRW 10 billion and cloud ERP integrated with Korean tax authorities, processing 1 million transactions monthly.
HQ CountrySingaporeSouth KoreaUnited StatesSouth Korea
HQ City
Singapore
Seoul
San Francisco, CA
Seoul
Deal Date22 Mar 20235 Nov 20214 Aug 20213 Aug 2021
RoundSeries DSeries BSeries BSeries B
Raised$270M$2M$25M$5M
InvestorsMizuho Financial Group; Openspace Capital; Square Peg Capital; GMO Global Payment Fund; Jungle VenturesNAVERSoftBank GroupGorilla Private Equity; NAVER
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Naver Financial Corp. Competitors

Naver Financial Corp. competitors include listed companies like PicPay, Flywire and Payoneer, and private ones like Fintiv, CloudWalk and Airtel Mobile Commerce BV.

Public and private companies comparable to Naver Financial Corp.
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PicPayBrazilBrazilPublicly listed$1.2B$205M$1.2B0.5x
FlywireUnited StatesUnited StatesPublicly listed$623M$45M$2.2B2.6x
FintivUnited StatesAustin, TXPrivate--$2.4B-
CloudWalkBrazilSão PauloPrivate--$2.1B-
PayoneerIsraelIsraelPublicly listed$821M($43M)$2.4B2.0x
Airtel Mobile Commerce BVNetherlandsAmsterdamPrivate$417M$208M$2.5B6.0x

Naver Financial Corp. Public Comps

Naver Financial Corp. is still privately-owned, but its public comps include StoneCo, Pine Labs, Flywire, Lakala, Banco Inter, Payoneer, Upstart, Western Union, Euronet Worldwide and Zip.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
StoneCo$2.6B$965M1.3x1.2x3.6x2.2x
Pine Labs$250M$14M8.0x6.4x145.8x32.6x
Flywire$623M$45M3.0x2.6x41.8x11.9x
Lakala$827M$218M1.8x1.6x6.7x12.8x
Banco Inter$1.6B-1.5x1.2x--
Payoneer$821M($43M)2.6x2.0x(49.7x)7.5x
Upstart$1B$230M3.9x3.0x17.4x14.5x
Western Union$4.1B$926M0.5x0.5x2.1x2.2x

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Common questions about Naver Financial Corp.

When was Naver Financial Corp. founded?Naver Financial Corp. was founded in 2019.
Where is Naver Financial Corp. headquartered?Naver Financial Corp. is headquartered in Seongnam, South Korea.
Is Naver Financial Corp. publicly listed?No, Naver Financial Corp. is a private, VC-backed company.
What is Naver Financial Corp.'s valuation?Naver Financial Corp. was last valued at $2.3B in its strategic investment round in December 2019.
How much funding has Naver Financial Corp. raised?Naver Financial Corp. has raised $681M across 1 funding round.
What was Naver Financial Corp.'s last funding round?Naver Financial Corp.'s last funding round was a $681M strategic investment round in December 2019, led by Mirae Asset Securities.
Who are Naver Financial Corp.'s investors?Naver Financial Corp.'s investors include Mirae Asset Securities.
Which companies are comparable to Naver Financial Corp.?Companies comparable to Naver Financial Corp. include PicPay, Flywire, Fintiv, CloudWalk, Payoneer and Airtel Mobile Commerce BV.
How many companies has Naver Financial Corp. acquired?Naver Financial Corp. has acquired 1 company, including Dunamu.
What was the largest acquisition by Naver Financial Corp.?The $10B acquisition of Dunamu in November 2025 is the largest acquisition Naver Financial Corp. has made to date.
How many companies has Naver Financial Corp. invested in?Naver Financial Corp. has invested in 4 companies, including Kredivo Group, Z Enterprise, TBCASoft and HappyFresh.
What was Naver Financial Corp.'s last investment?In March 2023, Naver Financial Corp. invested in Kredivo Group's $270M Series D alongside Mizuho Financial Group, Openspace Capital, Square Peg Capital and 2 other investors.

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