Overtake (CEO Lee Joon-jung), a financial product advertising platform startup, announced on the 1st that it has recently successfully completed an investment in Series A worth 3 billion won.
Overtake secured the momentum to achieve its 2023 goal of “data analysis and algorithmic advancement” early by completing investment despite the recent cooling of the investment market due to financial market instability and weak investor sentiment.
In particular, KT, LG Uplus, and SK Telecom all participated in the investment, drawing attention. It is not common in the industry for the three major telecommunication companies to invest at the same time. This is why Overtake’s technology and growth prospects are drawing more attention.
Overtake provides financial products from more than 50 affiliated banks, credit card companies, and insurance companies so that financial consumers can easily check them on telecommunication companies’ PASSs, SK Planet’s OK Cashback, and Samsung Electronics’ Samsung Pay app.
Overtake is expected to achieve cumulative sales of 7 billion won in the third quarter this year and successfully achieve more than 100 percent annual sales since it recorded a surplus last year with sales of 4.6 billion won and operating profit of 500 million won.
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Meanwhile, Overtake completed its registration with the Financial Supervisory Service as an “online loan recruitment corporation” in October. In addition, it will complete the development of interlocking with individual financial institutions and provide “loan comparison services” through a platform that has formed a partnership within this year.