OPENULL

OPENULL operates as a financial technology firm positioned within South Korea's burgeoning e-commerce market. The company was established in 2017 by founder and CEO Daniel Park, also known as Seong Hun Park.

The firm's core offering is SSOMEE, a platform that pioneered the 'Buy Now, Pay Later' (BNPL) business model in the South Korean market upon its launch around 2020. SSOMEE provides consumers with flexible installment payment options for purchases made on any e-commerce website, targeting a consumer base that includes Millennials and Gen Z shoppers who utilize BNPL services for their online transactions. The service is designed to integrate with various e-commerce businesses and financial companies, aiming to create a broader "fin-culture experience" beyond a simple payment transaction. This strategy involves capturing shopping habits and purchase data to provide value to its platform partners.

OPENULL has achieved several key milestones, indicating its progression and validation within the market. In 2020, the company secured initial seed funding from FuturePlay and was also selected for the government-backed Tech Incubator Program for Startups (TIPS). The following year, it participated in an accelerator program hosted by F10 in Seoul and won first prize at a pitching competition held by D.CAMP and Signite Partners. In August 2022, OPENULL closed a pre-Series A funding round with participation from investors including Shinhan Capital, Infobank, and Block Crafters. This capital was earmarked for team expansion, technology development, and user base growth, including the launch of a mobile app.

Keywords: OPENULL, SSOMEE, Buy Now Pay Later, BNPL, South Korea fintech, e-commerce payments, consumer finance, installment payments, Daniel Park, Shinhan Capital, Infobank, Block Crafters, FuturePlay, fintech startup, online retail finance, Gen Z shoppers, payment solutions, financial technology, Korean e-commerce