Most small and mid-sized business owners with low credit records often struggle to secure working capital loans and survive tight cash flow, according to Kim. It enables small business owners to connect with other entrepreneurs in their communities looking to scale their businesses. The app also provides services like SMEs’ sales ledgers and policy information. In 2017, KCD launched its bookkeeping app for SMEs, called Cash Note, which helps small and mid-sized enterprise owners track a comprehensive overview of cash flow, including revenues, credit card sales and expenditure. The startup wants to address small merchants’ pain points by providing digital financial services, Kim told TechCrunch. KCD was valued at about $563 million in November last year when it raised $28.1 million in its Series D1. The latest financing values the company at approximately $776 million (1.1 trillion KRW).
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