Yellow Mobile, a Korean startup offering mobile services has secured a US$30m (KRW 36b) investment from Japanese internet and financial group SBI Holdings. The investment is a result of SBI Holding’s business alliance and strategic investment plans made last year.

Yoshitaka, the Chairman of SBI Holding commented, “Yellow Mobile leads innovation within the mobile paradigm with its vision and potential for growth”. “Our support will allow Yellow Mobile to transition from the venture ecosystem into a dominant company in the Asia region”.

Lee Sang Hyeok from Yellow Mobile commented, “The new strategic investment from SBI Holding has strengthened the business partnership”. “The investment will accelerate plans for expansion into foreign countries and in particular expansion of mobile services throughout Asia”.

In December 2015, Yellow Mobile entered a three-way strategic business partnership with SBI Holding and Korean fintech group Yellow Financial Group. As part of the strategy, SBI Holding would support Yellow Mobile enter the South East Asian and Japanese markets with human and financial resources. SBI Holding would also have access to Yellow mobiles proven digital marketing knowhow.

SBI Holding which formed in 1999 has a broad range of business interests including stocks, banking, insurance and other financial services. Recently, the company expanded into pharmaceuticals, health products and cosmetics. Currently SBI Holding has over 5,400 employees and operates in over 20 countries as one of Asia’s leading financial group.