Republic To Expand into Asia via Strategic Investments and Partnerships; Seoul, Korea office is first Asia outpost

NEW YORK, March 30, 2022 /PRNewswire/ -- Republic, a leading global FinTech startup that operates multiple online investment platforms and provides asset management and blockchain advisory services, announced today that it will expand overall business operations to Asia with the launch of Republic Asia and its Seoul office. The company has further expansion planned in Singapore and other Asian jurisdictions in 2022.

As part of its Korean operations, Republic Asia participated as an anchor investor in connection with a majority stake investment in TogetherApps, the leading licensed P2P (Peer-to-Peer) investment platform in Korea with over USD 1.2 billion in completed real estate loan transactions since its 2015 launch, made by a private equity fund operated by Quintessa Investment. Republic also entered into a strategic partnership with TogetherApps to collaborate on new product offerings and expand capital markets access through Republic's global network.

In August 2020, the "Act on Online Investment-linked Financial Business and the Protection of Users" (the "Act") came into effect in Korea. The Act was introduced to regulate marketplace lending and enable licensed P2P lending platforms in Korea to operate as authorized financial institutions to lend to consumers and raise capital from institutions, further legitimizing the P2P industry and improving the regulatory framework in Korea. TogetherApps received its official P2P license from the Korean Financial Services Commission in August 2021 and is expected to continue its industry-leading growth with Republic's support.

In addition to its entry into the Korean P2P industry, Republic Asia completed a minority investment in Korbit, one of only five approved cryptocurrency exchanges in Korea allowed to provide cash-to-crypto exchange services. Republic's leading global blockchain practice will collaborate with Korbit across various initiatives including on international projects and increasing engagement between Korean and global blockchain community.

To further its mission to increase access to diverse investment opportunities globally, Republic also entered into a strategic partnership with Cube Entertainment, one of Korea's leading full-service music & entertainment companies. Through its advanced operations in artist & music production, talent agency and record label, Cube Entertainment discovers and develops talented artists to produce high quality original content in Korea and globally. Republic will partner with Cube Entertainment to leverage their mutual investments and technology in the arts & entertainment space to enhance global engagement with K-pop and K-culture.

These transactions come on the heels of Republic's 4Q 2021 USD 150 million Series B equity financing led by Valor Equity Partners and its subsequently announced agreement to acquire Seedrs, Europe's leading online investment platform, pending UK regulatory approval. Building upon Republic's industry-leading expertise in the US across various FinTech verticals, Republic's new European and Asian investments will serve as the foundations of Republic's global expansion in 2022 and beyond.

Republic is already backed by various leading investment and FinTech firms based in Korea. Viva Republica, a Korean FinTech behind the finance superapp Toss with over 20 million users, and Alpha Asset Management, a Korea-based multi-asset investment advisory firm, participated in Republic's recent Series B equity financing, joining Hashed as new Korea-based investors, all of whom support Republic's mission to democratize finance and expect to collaborate on Republic's Asia expansion.

"Since the beginning, Republic's ultimate vision has always been to build a new type of investment firm that can democratize finance for everyone in this rapidly changing world. Asia is home to nearly 60% of the global population, and Republic is incredibly excited and eager to bring our experiences and learnings to Asia, starting with our Korean operations." Said Youngro Lee, COO of Republic and Head of Republic Asia. "We are so excited and humbled to partner with innovative firms such as TogetherApps, Korbit and Cube Entertainment and look forward to actively contributing to the Asian FinTech and entrepreneurship ecosystem."

Following Republic's strategic partnership and investments in Korea, Republic expects to enter into additional partnerships with various other Asia-based enterprises to enhance the Republic Asia ecosystem to serve entrepreneurs and investors globally.

About Republic
Republic is a FinTech firm that enables everyone to invest in private markets with industry-leading expertise in investment crowdfunding, private deal syndication, and blockchain advisory services. Republic has facilitated via its ecosystem over $900 million in investment transactions working with over 600 companies, with a community of over 1.5 million users across 100+countries. Republic is backed by numerous leading investment firms and financial institutions and its affiliated entities have co-invested with the best names in venture and private equity. Founded in 2016, Republic is headquartered in New York City with offices worldwide. For additional information, visit group.republic.com.

About Republic Asia
Launched in March 2022, Republic Asia is a division of Republic focused on expanding its mission to democratize finance into Asia. Through on-the-ground strategic local partnerships and investments, Republic Asia is developing a global ecosystem to facilitate private investment transactions between Asia and the rest of the world, open to everyone. For additional information, visit www.republicasia.com.

Media Contacts:
Jasmyn Pizzimbono, Republic
[email protected] ; 917-324-4050

Jenna Guarneri, JMG Public Relations
[email protected] ; 917-575-7526

SOURCE Republic