Yanolja Secures 2 Trillion KRW Investment from Masayoshi Son's Vision Fund

Vision Fund's Second Largest Domestic Venture Investment... Company Valuation '10 Trillion'
Yanolja Accelerates Technological Innovation... "Building a Global Travel Platform"

Yanolja logo. [Photo by Yanolja]

[Asia Economy Reporter Junhyung Lee] Leisure platform Yanolja announced on the 15th that it has secured a total investment of 2 trillion KRW from SoftBank Vision Fund II, led by Chairman Masayoshi Son.

This investment is the second largest domestic venture investment by Vision Fund, following Coupang (approximately 3.35 trillion KRW). While the industry had expected the Vision Fund's investment scale to be around 1 trillion KRW, Yanolja attracted twice that amount. Yanolja was recognized with a corporate valuation of 10 trillion KRW, becoming a decacorn (a private company valued at over 10 trillion KRW).

[Image source=AP Yonhap News]

Yanolja plans to accelerate technological innovation with the funds raised from this investment. According to the company, this investment provides an opportunity to lead market innovation as the number one leisure super app in Korea (an app that offers all services in one) and the global number one cloud solution company.

The company specifically plans to enhance AI-based automation solutions and big data-based personalized services to build a global travel platform.

Moon Kyuhak, Managing Partner at SoftBank Investment Advisors, stated, “Yanolja is a pioneer in innovating Korea’s travel and leisure industry with its AI-driven leisure super app strategy,” adding, “We are pleased to collaborate with Yanolja to expand the market and innovate the travel and leisure industry.”

Lee Sujin, CEO of Yanolja, said, “We are pleased to achieve Yanolja’s goal of connecting the global leisure market through technology together with Vision Fund II,” and added, “We will continue to become the world’s number one hospitality tech company and travel super app with differentiated technology.”

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