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Nullee Raises KRW5B in Series B for Tax App SSEM

Source: Nullee

SEOUL, South Korea — Nullee Inc., a South Korean startup that operates the top personal business tax filing app SSEM, announced on Saturday that it had completed a Series B funding round, raising KRW5 billion (US$3.63 million). 

This brings the total investment in Nullee to KRW12.7 billion (US$9.23 million). 

Existing investors Smilegate Investment, Woori Venture Partners, and KB Securities participated in the funding round. As of the end of 2023, 

SSEM's cumulative subscriber count reached 800,000, representing a 202% year-on-year increase. 

Concurrently, the cumulative filings stood at 210,000, up 116% from the previous year.

Nullee plans to use the newly acquired funds to enhance its tax filing services, develop new businesses, and cover marketing expenses. In anticipation of the comprehensive income tax filing period in May, the company is preparing for a significant increase in performance compared to last year.