Tuesday, 16 July 2024
Kakao Pay raised $1.3 billion as transaction value exceeds $61 billion in Q3
Kakao Pay recorded KRW 72.5 trillion ($61.5 billion) in accumulated transaction value in Q3 2021, a 54% increase year-on-year (YoY), and KRW 331.2 billion ($280.9 million) in consolidated sales in Q3, an increase of 73% YoY. As of Q3, the cumulative number of Kakao Pay subscribers exceeded 37 million and the number of monthly active users reached 20.4 million, an increase of 23% YoY. On 25 and 26 October, Kakao Pay raised KRW 1.53 trillion ($1.3 billion) in its IPO. The company received 1.8 million subscriptions in the public offering for general investors. Kakao Pay's general public offering lowered the barrier to entry for public offering shares by allocating 100% of the volume to general subscribers equally. In line with the corporate philosophy of 'finance beneficial to everyone', Kakao Pay allowed anyone with only KRW 900,000 ($763) in subscription margin to receive equal shares.
Re-disseminated by The Asian Banker from Kakao Pay (Links here and here)
