KANAK
Integrated payment and biometric authentication fintech platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | KRW800m | Seed | |
| Total Funding | 000k | ||
KANAK, also known as Keonekteu Co., Ltd., is a South Korean fintech company that provides integrated payment processing and data management solutions. Founded on June 17, 2020, by CEO Lee Won-il, the company aims to merge finance and software to offer convenient and rational services. KANAK operates in the financial software industry, serving as a Payment Gateway (PG) and electronic payment settlement agent.
The company's main service, 'ePAYDAY', offers a customized payment solution that simplifies online and offline integrated payments and settlement management for merchants. This platform is designed to increase work efficiency through an intuitive interface and flexible fund management. More recently, KANAK has expanded into biometric solutions with its 'Handit' service, which uses palm vein recognition for authentication and payments, initially launched at the Seoul Special City Dental Hospital for the Disabled. It has also secured contracts to supply this palm vein-based access control solution to apartment complexes.
KANAK targets its services at a variety of sectors, including healthcare, where it initially focused on supplying its payment system to hospitals in the metropolitan area. The company's business model involves generating revenue through commissions on payment processing. It has also pursued strategic partnerships and acquisitions, including a planned sale of its stake in Mediacox to Sonid, a KOSDAQ-listed company, to leverage biotechnology networks. KANAK has received investments from firms such as KB Investment, SKAI Worldwide, and Platform Partners Asset Management. The company has received venture business certification and is registered as an electronic financial business with the Financial Services Commission.
Keywords: payment gateway, fintech, biometric authentication, ePAYDAY, payment processing, data solutions, palm vein recognition, financial software, settlement management, access control, Handit, PG service, merchant services, online payments, offline payments, B2B fintech, payment solutions, Lee Won-il