SEOUL: South Korean transportation firm Kakao Mobility secured an additional combined 140 billion won (US$125.69 million) investment from a consortium led by private equity firm TPG as well as Carlyle Group, parent Kakao Corp said on Wednesday.
With this, total investments from TPG consortium, Carlyle and Google in Kakao Mobility has reached 920 billion won (US$825.96 million), Kakao said in a statement.
Kakao Mobility's app, Kakao T, offers South Korea's most popular taxi-hailing service with 28 million registered users.
(US$1 = 1,113.8600 won)
(Reporting by Joyce Lee, editing by Louise Heavens)