O2O fintech firm OneTwoCM to apply for listing

Capstone Partners Co., Ltd. announced on the 24th that O2O and fintech company 12CM, led by CEO Han Jeong-gyun, will apply to go public. Capstone Partners invested in the company.

Capstone Partners made an initial investment of KRW 2 billion in 12CM in December 2014. It later invested an additional KRW 2.2 billion in two rounds over five years, bringing its current stake to about 18%.

12CM developed the “smart stamp,” known as a stamp you can put on your phone. Users can stamp their smartphone screens to access services such as purchases and loyalty-point accrual. The company also has proprietary technology for services including simple authentication and payments, and is expanding into a range of business areas.

In particular, through contact with Tencent, a limited partner in a Capstone Partners fund, the company connected with local businesses in different markets to support its expansion into China. It has since entered 22 countries and regions, including China, Japan, Taiwan, the United States, and Europe.

Capstone Partners Partner Hwang Tae-cheol, who led the investment in 12CM, said, “Given the company’s differentiated authentication and payment technologies, which have earned recognition at home and abroad, we are optimistic about approval of its listing application.” He added, “Considering 12CM’s potential, combining user convenience, advanced security, and diverse business partnerships, we expect this investment to deliver a high return and a significant exit for Capstone Partners.”