Kakao Mobility Secures Additional 140 Billion KRW Investment... Total Accumulated 920 Billion KRW

[Asia Economy Reporter Buaeri] Kakao Mobility announced on the 9th that it has secured an additional investment totaling $125 million (approximately 140 billion KRW) from the TPG consortium and Carlyle.

The TPG consortium invested an additional $116.8 million (130.7 billion KRW), and Carlyle Asia Partners V invested $8.2 million (9.2 billion KRW).

Previously, in 2017, the TPG consortium became the first investor in Kakao Mobility by investing 500 billion KRW, and after four years decided on an additional investment. Carlyle had invested 220 billion KRW earlier this February.

Kakao Mobility stated that the total cumulative investment amount raised from the TPG consortium, Carlyle, and Google is approximately 920 billion KRW, making it the largest scale in the domestic mobility industry.

Lee Chang-min, Vice President of Kakao Mobility, said, "This was possible because we received high evaluations for our platform scalability and new business promotion capabilities," adding, "We will continue to steadily carry out our mobility expansion strategy based on differentiated technological competitiveness and innovative DNA that pioneers new markets."

Ganen Sarvanantan, Managing Partner of TPG Capital Asia, said, "Kakao Mobility has changed Korean consumers' taxi usage experience through KakaoT and opened the era of smart mobility," and added, "I am confident that they will introduce broader and new services encompassing all 'mobility' in the future."

Kim Jong-yoon, Korea Representative of Carlyle Asia Partners, said, "This additional investment signifies Carlyle's strong confidence in Kakao Mobility's business prospects, continuous growth, and innovation."

This content was produced with the assistance of AI translation services.