Together Apps

About Together Apps

Together Apps operates 'Together Funding', a peer-to-peer (P2P) financial platform specializing in real estate-backed loans. Founded in September 2015 by Kim Hang-ju, the company connects investors with borrowers, aiming to provide mid-interest rate loans to individuals who may be underserved by traditional financial institutions. The platform's business model bridges the gap between primary lenders and high-interest private lenders, focusing on the residential property market. For investors, it offers alternative investment opportunities, while borrowers gain access to capital using their real estate as collateral.

The company was established as a fintech solution to create a more efficient and user-friendly financial service from the user's perspective. By May 2024, Together Apps had facilitated a cumulative total of 4.17 trillion won in linked investments. It officially registered as an Online Investment-Linked Financial Business (On-to-up) with the Financial Services Commission, solidifying its position within South Korea's regulatory framework. In February 2024, the company expanded its portfolio by acquiring Hello Fintech (operator of Hello Funding), a P2P firm specializing in loans for small business owners, thereby diversifying its services beyond real estate.

In 2022, a domestic private equity fund, Quintessa Investment, acquired a majority stake in the company. As of August 2024, Quintessa Investment was reportedly seeking to sell its controlling stake. The company generates revenue from the interest margin between the rate paid by borrowers and the rate returned to investors. To mitigate risk for its investors, Together Apps has implemented measures such as a third-party escrow management system with Gwangju Bank and partnerships with Samsung Fire & Marine Insurance and legal firms.