FinTech startup Big Value Co., Ltd. has raised 2 billion won or $1.7 million for its Series A funding from KDB Industrial Bank, Shinhan Bank, Hana Bank and InLight Ventures. Big Value Co., Ltd. focusses on multiplex housing market in South Korea. The startup calculates the prices of unstructured apartment houses and supplies real estate market data to Shinhan Bank and Busan Bank.
Analysing and Sharing Real Estate Trends
Big Value Co., Ltd has developed and patented the technology of collecting and storing large amount of real estate data into ‘location based big data system.’ Big Value Co., Ltd provides insightful data to individual customers and finance companies to make even-handed decisions for real estate market.
In South Korea, 65% of population lives in big apartment, so great amount of data is available for those apartment prices. But very limited information is available for small multiplex houses. It was difficult to appraise the price of multiplex houses due to the diversified sizes, types of multiplex house for loan purposes or for price trends. Big Value Co., Ltd provides necessary service for Korean multiplex housing policy. The startup’s data processing speed can help the development of financial products for multiplex houses residents.
At present the company has two type of products – B2B and B2C. Big Value Co., Ltd’s multiplex house price analysis system is being utilised by leading banks in the country – Shinhan Bank and Busan Bank. The Automated Small Multiplex Houses Price Appraising System Resource Data and Web, Mobile ASP Solution provides reliable data for cross checking and helps understand the real estate market trends.
The B2C services of the company helps support Mortgage Loan Consulting, which is used internally by Shinhan Bank. There is also a mobile application provided to Shinhan Bank customers for multiplex house prices. Big Value Co.’s B2C product LOBIG analyses last 6 months’ price trend in real estate market and provides detailed information about facilities and realty agents.
Investment to boost expansion
Big Value Co., Ltd. is expanding its service area to various kinds of services such as factories (industrial complexes), land and building (single) information, etc. In addition to the large financial companies, the startup is looking establishing collaborations with innovative value-added companies such as Ernest Fund and Bank Salad.
Mr. Kim Jin-Kyung, the CEO of Big Value Co., Ltd. said, “With the latest investment, we will take a leap forward in real estate data expertise and at the same time provide a platform for growth as a comprehensive platform for real estate data. We will solve the information asymmetry problem and contribute to solve the inconvenience of consumers. “