Sandbank
State-of-the-art digital financial platform that allows the best rates in the industry for both loans and investments.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
KRW2.5b | Series A | ||
| Total Funding | 000k | ||
| USD | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 50 % | - | 206 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Sandbank, operated by DA Ground Co., Ltd., is a financial technology company based in Seoul, South Korea, that launched in 2019. The firm specializes in digital asset financial services, targeting mid-to-long-term cryptocurrency investors. Its founder and CEO is Hyunmyung Lee. The company has successfully raised $2 million in a seed funding round on June 2, 2022, with participation from institutional investors like Strong Ventures and KICA (Korea Information Certificate Authority).
The core business revolves around a platform for crypto asset management and investment. It provides users with crypto-backed loans and a variety of investment products. The model connects individuals and institutional investors with borrowers who leverage their cryptocurrency holdings as collateral for instant loans. This allows borrowers to access liquidity without selling their crypto assets, while lenders can earn passive income. Revenue is generated through mechanisms such as interest on loans and withdrawal fees for crypto assets.
The Sandbank platform, primarily a mobile app service, enables users to integrate and manage crypto asset portfolios from various exchanges and personal wallets, including major Korean exchanges and Binance. It offers tools for tracking asset flow and provides recommendations for optimal asset allocation. Key security features include a multisig protocol for asset protection, requiring multiple key authorizations for withdrawals, and the use of an Anti-Money Laundering system to block transactions from blacklisted addresses. The company holds an ISO/IEC 27001 certification for information security management.
Keywords: crypto asset management, digital asset investment, crypto-backed loans, cryptocurrency financial services, blockchain finance, crypto portfolio management, passive income crypto, digital asset platform, Hyunmyung Lee, DA Ground Co. Ltd., Seoul startup, fintech, crypto lending, investment products, asset allocation, Strong Ventures, KICA, ISO 27001, multisig wallet, anti-money laundering crypto