Olafintech Early Settlement Tops ₩15 Billion in Auto Parts Distribution

## SMEs' Funding Shortage Solved by Non-Financial Data Fintech: Olapintech Leads Innovation The chronic funding shortage experienced by SMEs is a major factor hindering business expansion. In particular, the automotive parts distribution industry has faced significant cash flow difficulties, as it takes several months from parts supply to insurance claim settlement. To alleviate this pressing need, Olapintech's innovative 'pre-settlement service' emerged. Remarkably, the core of this service lies in 'non-financial data' that was difficult for traditional financial institutions to utilize. By leveraging claim data from the Insurance Development Institute's AOS (Automobile Repair Cost Claim and Damage Assessment System), it enables parts distributors to quickly monetize receivables from insurance companies. This allows funds to be recovered immediately after parts supply and invoicing, providing a groundbreaking solution that resolves the funding shortages distributors previously experienced due to long waiting periods. Since its launch in July 2023, the service has surpassed 15 billion won in cumulative transaction value in just over two years, proving the market's enthusiastic response. The explosive growth in monthly usage cases and transaction volume clearly demonstrates its effectiveness. Olapintech plans to pursue partnerships with top distributors in the second half of this year and further expand its service scope through additional collaborations. Olapintech is not stopping at the automotive parts market. Based on its expertise, having already secured the top position in the online seller pre-settlement market with its 'Ola' service, it is expanding its accounts receivable securitization (pre-settlement) service to various industries such as PG (Payment Gateway), food ingredients, and post-paid services. CEO Kim Sang-soo emphasized that under the vision of "solving the funding problems of all businesses in the world," the company will continue to grow together with more partners through innovative financial solutions. Olapintech's case clearly demonstrates that fintech innovation utilizing non-financial data is providing relief to SMEs and, moreover, becoming a crucial driving force invigorating the economy as a whole.