British fintech company XNTree, member of the European fintech accelerator Level39, will set up shop in Seoul’s Yeouido financial district, according to Pulse. A celebration of the announcement coincided with the Seoul Global Fintech Demo Day event on 19 June. XNTree and Maekyung Media Group have partnered to support Korean fintech companies and their global growth.
Level39 is the influential European tech accelerator space located in Canary Wharf, London. XNTree Asia Hub will be a Korean version of Level39, seeking to boost Fintech innovation across the Asian region.
“With years of experience and expertise, we will foster promising Korean and Asian fintech companies and support them to advance into the global market,” stated XNTree co-head Chun Jae-won.
Additional details reported by Pulse and XNTree include: in May some of XNTree’s fintech advisory board and team signed a memorandum of understanding (MOU) with the Financial Services Commission and Fintech Center and with the Seoul city government not only to support Korean startups and establish a Fintech and Smart city in Korea but also attract other promising Asian startups. By the year’s end, XNTree will offer a 12-week-long fintech accelerator program for eight to 12 startups, with the goal of supporting 40 to 50 startups per year.