South Korea Enters India To Power Start-Ups Ecosystem

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Korean start up True Balance among the first few start-ups to set up in India.

South Korea
Image for representational purpose only

Korea’s central government has a progressive, hands-on approach to the Indian economy with a strong focus on investment to kick start support for and development of new and innovation technology. Born2global a Korean government agency under the Ministry of Science & ICT, chose Balance Hero India as a successful fintech Korean start up in India.

True Balance is one of the first fintech Korean Start-ups to set up business in India in 2014 and spearheading this initiative of the Korean government. Balance Hero, the Parent Company that launched True Balance, India’s leading balance and data management app.

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The company with 50 Million plus downloads and a data backed approach is intending to bring a revolution and create “ finance for billions “. Combining traditional forms of user research with high end analytical tools they are looking to provide the much needed Micro loans for Utility services in India.

Sean, Vice President of Balance Hero said, “We envision to be the first Korean fintech Unicorn in India. India’s market growth, massive size, early stage makes its very attractive and with 1.3 billion population with over 50% of young aged group of 24 years, their strong acceptance towards IT technology makes it a very high potential market.”

Cheol-won (Charlie Lee), CEO of Balance Hero said, “True Balance is Mobile Application for the Next Billion User and we are aligned with PM Modi’s vision of “Digital India”. True Balance has also been able to provide realistic solutions fintech domain for Indian users along with creating job opportunities. We have huge expansion plans for India and look forward to contributing to the booming Indian start-up ecosystem.” True Balance is focused on Tier II and Tier III markets helping provide financial services to ease the process of balance checking and payments of Utility services.

Ministry delegates along with other 8 Korea start-ups visited our company and talked about India’s market insights, recruitment, regulation and laws.

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