GEnterprise Raises 26 Billion KRW in Series C Funding

Led by NH Investment & Securities, with Many New Investors Joining
Focused Investment Planned for 'Biznep' Technological Innovation and Service Advancement

GEnterprise, the operator of the tax automation platform 'Biznep,' announced on June 9 that it has successfully completed a Series C funding round, raising a total of 26 billion KRW. With this round, the company's cumulative investment through new share issuance has surpassed 35.5 billion KRW.

This round was led by the NHDigitalAlliance Fund, jointly managed by NH Investment & Securities and NH Venture Investment. In addition to existing investor Wooshin Venture Investment, new investors such as Shinhan Venture Investment, Magellan Technology Investment, GNTech Venture Investment, and K2 Investment participated in large numbers. DSC Investment also joined the round by acquiring all shares previously held by Gorilla Private Equity Fund.

According to GEnterprise, this successful fundraising demonstrates that the high growth potential and technological capabilities of the platform-based tax-tech industry have been officially recognized by the market. In fact, as of 2024, GEnterprise reported a 14% year-on-year increase in revenue and a remarkable 164% increase in operating profit. This growth was driven by the stable expansion of the 'Biznep Refund' solution for business owners and the tax bookkeeping support service 'Biznep Care.' Notably, 'Biznep Refund' surpassed a cumulative managed refund amount of 900 billion KRW and 2.3 million registered business clients in just two years and eight months since its launch, solidifying its position as a leading tax service for business owners.

The newly raised funds will be focused not only on enhancing the core services and technologies of 'Biznep,' but also on expanding the 'Biznep Care' service, strengthening marketing efforts, and broadening strategic partnerships with financial institutions and major platform companies. Additionally, the company plans to accelerate its transformation into a comprehensive tax and finance platform by advancing its tax-specialized real-time AI service 'Biznep SeNa,' expanding services for corporate clients, and developing new business models based on big data.

Lee Seongbong, CEO of GEnterprise, stated, "This investment is highly significant as it demonstrates that Biznep's technological capabilities and business model have earned the trust of the market and investors." He added, "We will continue to strengthen our market leadership through technological innovation using AI, further enhancement of service quality, and stronger branding."

This content was produced with the assistance of AI translation services.