Under the MoU, Yello Mobile will leverage SBI Holdings’ global business network and resources to support its business development efforts in Japan and Southeast Asia, furthering its position as Asia’s leading mobile company. Likewise, Yello Mobile will work in collaboration with Yello Financial Group to support SBI Holdings’ recently-launched financial technology business in Korea.
SBI Holdings will leverage Yello Mobile’s strong market position and digital marketing capabilities, as well as Yello Financial Group’s extensive network of financial technology companies, to enhance both its product offering and marketing strategies and more effectively reach Korea’s attractive mobile market.
With a portfolio of more than 30 growth companies, Yello Financial Group provides innovative, mobile-based, personalized financial services and products. The portfolio includes a range of companies within the financial services ecosystem, including payments platforms, peer-to-peer lending services, asset management products and other financial services providers. Yello Financial Group operates independently from Yello Mobile.
Lee Sang Hyuk, founder and CEO of Yello Mobile, said, “We are excited to partner with SBI Holdings as we continue our expansion across Asia. SBI Holdings has a strong track record of supporting leading technology companies in the region, as well as a global business network that will help us enter new markets such as Japan as well as further our expansion across Southeast Asia.”
“Yello Mobile has established a proven mobile platform with tremendous capabilities in digital marketing and advertising,” said Yoshitaka Kitao, President and CEO of SBI Holdings.
“In addition, Yello Financial has an impressive offering of different companies and products across the financial services value chain. We look forward to leaning on their collective expertise in the Korean market and realizing the significant network effects to help drive all of our businesses going forward.”
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