Heybit management company ‘Uprise’ attracts 24 billion won Series C investment

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[Blockchain Today Correspondent Lee Ji-eun] Uprise (CEO Lee Choong-yeop), which provides digital asset investment technology ‘Heybit’ and global ETF automatic investment service ‘Eruda Investment’, announced on the 8th that it has attracted 24 billion won of Series C round investment. .

In this investment, new investors such as Capstone Partners and Seoul Investment Partners joined as the lead of KTB Network, and Kakao Ventures, an existing investor, participated. As a result, Uprise has attracted a total of 36 billion won in accumulated investment, from the previous investment of 12 billion won to the new investment of 24 billion won.

KTB Network, which led the round, is a first-generation VC (venture capital) in Korea and has a reputation for excellence in its ability to discover promising start-ups and grow them into unicorn companies. Representative investment examples include Toss (Viva Republica) and Baedal Minjok (Elegant Brothers), which have recently recorded the highest performance ever and are about to be listed on the stock market.

While digital assets are entering the system and robo-advisors are popularized, investors expect Uprise to achieve great growth.

Donghyun Lim, Executive Vice President of KTB Network, said, “Uprise is expected to overcome the limitations of existing asset management and grow into a new wealth management company by combining the profitability of digital assets (Heybit) and the scalability of traditional institutional finance (Iruda Investment). ” he said.

Heo Jong-soo, head of KTB Network’s team, also explained the reason for the investment, “Based on proven investment management capabilities and reliability, we expect to be able to establish ourselves as a unique robo-advisor company in the global market.” It has been selected as a target company for fostering ‘baby unicorns’ hosted by the Ministry of Business.

Uprise is a fintech company established with the vision of popularizing investment and asset management.

‘Heybit’, a digital asset finance service provided by Uprise, provides products that can control the volatility of digital assets and build stable profits. As of October 2021, the cumulative number of users is about 24,000, and the cumulative customer net profit is 22.8 billion won.

Meanwhile, ‘Iruda Investment’, which is provided through its subsidiary Iruda Investment discretionary, is also recording high growth. Yiruda Investment diversifies investment in the global market with an evergreen strategy that implements the global asset allocation fund ‘All Weather Fund’ with EMP. Thanks to stable investment performance, it has surpassed KRW 100 billion in assets under management (AUM) in about one year and three months after the service was launched in July of last year.

Uprise CEO Lee Choong-yup said, “It is growing rapidly, but this achievement is only a small area in the overall market.

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