The Financial Services Commission in Korea recently announced guidelines for art sculpture investment, making it more mainstream. There is a rapidly emerging trend for a new alternative investment platform. Financial institutions are making strategic investments despite the cold investment season, such as the economic recession.
Korean art-tech platform Tessa has attracted strategic investment from Kyobo Securities and exceeded the cumulative investment amount of 12.1 billion won ($9 million). Tessa is an alternative art-collecting platform, that allows users to buy, trade, and earn
The investment in Tessa was conducted under the leadership of Kyobo Securities, as it analyzed that the future value and growth potential were high. Tessa plans to promote various cooperation projects with Kyobo Life Insurance Group, actively pursuing new digital businesses.
Previously, Tessa had attracted strategic investment from Kiwoom Securities. At that time, a memorandum of understanding (MOU) was signed to revitalize the sculpture investment-related industry and develop a common market, providing an opportunity to provide safe art sculpture investment services.
Through this strategic investment, Tessa will strengthen investor protection and expand its business. It plans to steadily discover new growth engines in the investment contract securities industry, such as new business model planning and planning of rare art finance products.
Tessa CEO Kim Hyung-jun said, “With this investment, we have secured both customer base and business stability. We will strive to comply with laws and regulations and strengthen investor protection while doing our best to create a safe fractional investment ecosystem.”
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