The crowdfunding service increased its latest round to $84.5m and has formed a joint investment vehicle with Lotte.

Diversified conglomerate Lotte Holdings has invested KRW80m ($68m) in South Korea-based crowdfunding platform developer Wadiz, extending its series D round to KRW100 billion ($84.5m), Marketwatch reported yesterday.

Founded in 2012, Wadiz provides crowdfunding services for small and medium-sized businesses and has approximately 4 million users. It also offers a retail service connecting consumers and startups.

The company’s total funding stands at approximately $125m, according to Pickool. The proceeds from the round will be used to support its expansion both at…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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