AIZEN Acquires E-commerce Data Aggregation Platform to Enhance Its CreditConnect

AIZEN, a fintech that provides AI solution “ABACUS” for retail banks, has signed a definitive agreement to acquire a Korean e-commerce data aggregation platform, which would operate as its independent subsidiary.

The acquired company meets the practical demands of sellers that are seeking to expand, through critical cash flow management functionality via its own cash management platform. It offers online sellers instruments to monitor and control their cash tied to multiple e-commerce sites. Besides, it is the only firm that has succeeded in connecting over 42 online and offline malls.  Furthermore, the company has an account receivable financing system - GSM, which has issued more $600 million loans over the last couple of years.

Wanna Know How to Reach Our Audience of Millions at Fazzaco?

​"With the addition of an e-commerce data aggregation platform, we can strengthen our AI-powered lending platform - CreditConnect, and further enhance our data economy ecosystem across the entire value chain in the e-commerce industry." said Jung Seok Kang, CEO of AIZEN. "We are working to expand the same business model in different countries as we standardize the process and infrastructure to achieve high scalability."

AIZEN’s CreditConnect is an “Embedded Finance” model bridging the credit gap between data economy platforms and banks.

The fintech is intended to enhance its vertical data economy integration strategy across Southeast Asia, and expand businesses to mobility, gig economy and other emerging data economies.