[THE INVESTOR] Honest Fund, South Korea’s peer-to-peer personal loans and investments service provider, has attracted investments worth 6 billion won (US$5.36 million) from multiple institutional investors, the firm said on Sept. 20.

The latest investments were made by local venture capital firms and private equity firms including KB Investment, Hanwha Investment and Shinhan Capital.

The cumulative sum of investments the firm has received stands at 9.2 billion won since it was set up in 2015.

Honest Fund plans to use the funds for building a risk management system and data technology development.

By Park Han-na (hnpark@heraldcorp.com)