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China's Ant Financial to invest $200 mln in Korea's Kakao Pay
February 21, 2017 / 12:03 AM / 10 months ago

China's Ant Financial to invest $200 mln in Korea's Kakao Pay

SHANGHAI, Feb 21 (Reuters) - China’s Ant Financial will invest $200 million in Kakao Pay, the mobile payment subsidiary of South Korean messaging platform giant Kakao Corp, the two firms said in a joint statement on Tuesday.

The investment is part of a broader global push by Ant Financial, the world’s largest financial technology company, after it announced an $880 million deal for U.S. money-transfer firm MoneyGram International last month.

Reporting by Adam Jourdan; Editing by Richard Pullin

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