Wadiz separates into two units to expand offline business

Crowdfunding platform Wadiz said Monday it has completed a organization overhaul by spliting the company into two entities in charge of financial and non-financial businesses to transform itself into a platform directly linking consumers and startups, both online and offline.

Following the revamp, the parent company Wadiz Co Ltd. will be in charge of non-financial business while the subsidiary companies Wadiz Finance and Wadiz Partners will lead the financial business, the company said.

“We aim to clearly separate the fields and roles of financial and non-financial businesses. The corporations will be able to strengthen their responsibilities and expertise in the given fields. In light of this, the company will take a next step to become a ‘Direct to Customer platform’ that connects startups or small firms and consumers firsthand,” Wadiz official said in a statement.

Non-financial business operator Wadiz Co Ltd. plans to go beyond its online funding service model to launch online and offline retail channels where startups can showcase their products and services. The unit will also strengthen its intellectual property business by matching creators for game or animation characters and manufacturers.

The unit will open up a store channel that allows small firms succeeded to receive funding from Wadiz to distribute their products to customers.

Taking on financial business, Wadiz Finance and Wadiz Partners plan to strengthen their roles as a financial support platform for startups.

Wadiz Finance is preparing to roll out investment-based crowdfunding services that rewards customers with stocks or bonds, and online IR platform exclusive for startups.

Wadiz Partners will scale up its support for manufacturing startups that started off with Wadiz funding.

Meanwhile, Wadiz plans to go public on the nation’s secondary bourse, the Kosdaq, in the second-half of 2022. The company has already raised money up to 57.5 billion won.

By Byun Hye-jin (hyejin2@heraldcorp.com)