Heum Secures KRW 10.5 Billion Series B Funding

Seoul, South Korea—Heum, a South Korean financial AI technology company, said on Tuesday that it had raised KRW 10.5 billion (US$7.2 million) in Series B funding.

The investment brings the firm's total funding to KRW 21 billion (US$14.3 million).

Heum said in a statement that IBK Industrial Bank and Quad Ventures participated as returning investors, while Kiwoom Investment joined as a new investor.

Founded in 2017, Heum develops AI solutions for tax and financial management automation for small businesses and self-employed individuals. 

Its services include "Heum Report 2.0" for business tax processing and "Overpaid Tax," a tax rectification service.

The company said it will use the funds to enhance its AI agent technology for small businesses, expanding beyond its current offerings of expert consultation and free tax invoice issuance to include accounts receivable and payable management.

Heum was named a "2024 Ultra-Gap Startup" by the Ministry of SMEs and Startups and has received an A+ grade from the Korea Technology Finance Corporation and a T3 grade from Korea Evaluation Data's technology credit assessment.