Ant Financial Services to invest $200m in Kakao Pay.

Ant Financial Services, one of the world’s leading digital financial services providers agreed to invest $200m in Kakao Pay, Kakao’s mobile finance subsidiary. “South Korea is an important market for Ant Financial in its global expansion, and we see many opportunities in the market for innovative services and growth in mobile payments. Given Kakao’s leading mobile platform offering and vast customer base, we believe we can bring Ant Financial’s broad experience in digital payments and technology-driven financial services to offer exciting and innovative products to South Korean customers.” Douglas Feagin, Ant Financial President.