Travel Wallet, a South Korean fintech startup focused on cross-border payment solutions, has closed a KRW 16.1 billion funding round led by Kiwoom Investment and Hanwha Investment & Securities.
The investment comes on the heels of Travel Wallet’s inclusion in the Ministry of SMEs and Startups’ Preliminary Unicorn Special Guarantee Support Program. Selected as one of 15 companies from a pool of 79 applicants, the company received a credit guarantee reaching up to KRW 20 billion.
Travel Wallet has demonstrated robust growth by tackling persistent pain points in cross-border transactions, including excessive fees and lengthy processing periods. By August 2025, the platform had issued over 8.3 million cards cumulatively and processed more than KRW 6.5 trillion in total transaction volume.
The company’s flagship Travel Pay offering enables customers to convert and load funds across 38 currencies, providing access to over 100 million VISA-affiliated merchants worldwide through both digital and physical channels. The service stands out for its attractive pricing model, offering zero transaction fees on all foreign currency purchases and no exchange markup on major currencies including the US dollar, Euro, and Japanese Yen.
Beyond consumer services, Travel Wallet has moved into the enterprise space with cloud-based financial infrastructure and SaaS products that enable other businesses to launch payment services without substantial upfront capital.
Travel Wallet has set its sights on becoming a global financial infrastructure provider, with plans to introduce a stablecoin-powered digital wallet as part of its expanding service portfolio.
