[Investment] P2P financial company Lendit attracts 100 billion investment from Altos Ventures 등으로부터. Law firm Veat

Leading domestic fintech company Lendit has secured 10 billion KRW in Series B investment from venture capital firms Yellowdog, Altos Ventures Korea, and Collaborative Fund, based on its high growth potential. As multiple investors jointly invested a large sum, the investors presented various investment conditions and demanded considerable authority over the company. In this process, Lendit aimed to harmonize the investors’ rights and its own rights.

Law firm Veat accepted Lendit’s request and advised on the negotiation of investment conditions that could maximize the protection of Lendit's, the investee company, and the interested parties’ rights while integrating the demands of multiple investors. Also, to balance the rights of the Series Seed and Series A investors and the rights of this investment, Veat analyzed all of Lendit’s past investment contracts and prepared and provided data that could compare the rights of existing shareholders for each round based on key investment conditions.

Furthermore, Law firm Veat designed a Term Sheet that would satisfy both the investors and Lendit and drafted the Series B investment contract and shareholder agreements based on it, and provided an amendment investment contract that modifies the rights of existing shareholders. Additionally, it prepared and provided English subscription agreements and English shareholder agreements that Collaborative Fund, located in the United States, would sign. Lendit and the investors in this investment smoothly coordinated the investment conditions based on the data and legal advice provided by Law firm Veat, and as a result, Lendit was able to successfully complete the Series B investment.

Thank you.

Law firm Veat