KASA Korea, a property technology startup, has raised $7.8 million in a pre-series B funding round. The round was led by Korea Development Bank. Northern Light Venture Capital, Kona I Partners, and Kukbo Design also participated in the pre-series B round. With the fresh funds, KASA Korea became to amass over $20 million to date.
KASA Korea’s service is an innovative indirect real estate investment platform that easily permits many users to share the rights to commercial real estate (office buildings, etc.) and be able to just as easily (and safely) buy or sell those rights. A bank or real estate trustee can then issue digitalized asset-backed securities (ABS) with the commercial real estate as collateral, allowing anyone to buy or sell property via KASA’s platform, even for relatively small sums.
Recently, KASA Korea has signed a strategic alliance with Hana Bank, the fifth largest bank in South Korea, which operates a real estate indirect investment platform. KASA Korea was jointly designated as an innovative financial service by the Financial Services Commission with Hana Bank for the 'Digital Real Estate Backed Securities Public Offering and Distribution Service' last year.