Daniel Shin Excels in Fintech Innovation With PortOne Global

Sponsored by Easylink Studio

The rapidly evolving fintech (or financial technology) industry has spurred the introduction of new technologies along with adaptations for existing ones. In addition, astute fintech entrepreneurs have recognized unmet marketplace needs and swiftly moved to fill them.

Daniel Shin stands out among this new group of fintech innovators. This Korean entrepreneur has become a major force in the global fintech arena. With multiple successful businesses, and as an active angel investor, Daniel Shin has established himself as a notable fintech force.

Daniel Shin’s Business Career Takes Shape

Fintech entrepreneur Daniel Shin has experienced two diverse cultures and has been successful in two distinct business environments. Born in South Korea, he spent most of his young life on the United States’ east coast.

Attending the University of Pennsylvania’s Wharton School, Daniel Shin earned a B.S. in Economics in 2008. This broadly focused degree helped him to understand the workings of the financial industry. In addition, his business achievements led Wharton Magazine to name him on the coveted “40 Under 40” list in 2017.

Following his graduation, Daniel Shin joined McKinsey & Company, working as a business analyst until 2010. During this period, he also gained display advertising experience while working at Invite Media. This well-rounded business background would benefit him during his later business activities.

Daniel Shin’s Three Successful Business Ventures

In 2010, Daniel Shin returned to his native Korea and launched a succession of thriving businesses. TMON, Fast Track Asia, and PortOne Global have all made their mark on the Asian economy. Shin provided a glimpse into the motivation for his business endeavors.

“I think I’m an entrepreneur that really enjoys the early part of a startup, an industry, or a topic that is currently unsolved. We’re not sure if we can solve it, but if we do, it’s a big win for myself and the rest of the country,” Daniel Shin remarked.

TMON (Ticket Monster)

In 2010, Daniel Shin and four co-founders launched TMON (short for Ticket Monster) into the South Korean marketplace. TMON is Korea’s second-largest mobile commerce platform. The company brings in $3.5 billion in GMV (or gross merchandise volume), and it boasts over 9 million customers. Daniel Shin previously served as TMON’s CEO and Chairman.

Originally in 2010, Daniel Shin modeled TMON to mimic the highly successful Groupon model. After a year of operating the company, he decided to shift its focus to take advantage of an emerging trend.

“After about a year of running the Groupon model, we realized that pivoting the business towards mobile commerce provided a larger opportunity…While Amazon had such a foothold in the U.S., there was no such equivalent in other parts of the world like Korea. We saw mobile as an opportunity to really drive growth behind eCommerce and mobile commerce,” Daniel Shin explained.

Fast Track Asia

In 2012, Daniel Shin’s business acumen led him to co-found Fast Track Asia, a Korea-based company builder. Fast Track Asia is the force behind five unique companies, each of which has been sold or has attracted substantial venture investments. Fast Track Asia’s diverse brands include:

• Day 1 Company: Skills-based Digital Education Service
• Fast Five: Korea’s Leading Shared Office Brand
• Goodoc: Physician and Hospital Locator App

For perspective, Fast Track Asia has so far generated more than $800 million for investors. Daniel Shin remains on its Board of Directors.

PortOne Global

As the global payments industry continues to expand, innovative fintech companies are entering numerous regional markets. In 2018, entrepreneur Daniel Shin introduced payments orchestrator PortOne Global to the Asian marketplace.

Shin is the founder and CEO of this growing organization, which has bases in Korea and the Southeast Asian market. For perspective, PortOne Global is currently among Korea’s top ten B2b fintech players.

Collectively, PortOne Global generates approximately $9 billion total payments volume (or TPV) each year. The company currently partners with 2,500 (or more) merchants, as its customer base continues to grow. The firm has also attracted premier global investors such as NYCA and Softbank Ventures.

PortOne Global’s Services

PortOne Global offers its merchants a full range of digital payment services. PortOne Global offers all-in-one payment data reconciliation, payment optimization consultation, and an integrated payment API.

This leading regional payments provider also brings value-added applications into the mix. Examples include customizable checkout, payout services, and cross-border payments, so that clients do not need to build their own payment stacks. The PortOne Global service app is available through the App Store and Google platforms, as well as via Shopify in Southeast Asia.

Daniel Shin Receives Numerous Accolades

Daniel Shin’s multiple business achievements have led to several notable accolades. In 2010, he earned the Korea Internet Award for his TMON leadership. Also during that year, the Maeil Business newspaper nominated Daniel Shin as the next generation’s CEO of the Year.

On a larger scale, in 2011 Weekly People named who honored his native Korea. During that time, the World Economic Forum named this high-achieving young businessman as a Young Global Leader. Taken together, these honors demonstrate Daniel Shin’s business skills and dedication to excellence.

Daniel Shin Is an Active Angel Investor

In addition to his successful business ventures, Daniel Shin actively supports other emerging Asian eCommerce companies. To date, this highly engaged angel investor has provided funds to more than 40 businesses. As the eCommerce arena continues to grow, he envisions that each of these companies will bring its distinctive offerings to the marketplace.

This article is sponsored and supplied by Easylink Studio.