Yello O2O, a business services spinout of South Korea-based internet company Yello Mobile, has raised ₩25b ($20.7m) from investment firm Q Capital Partners, DealStreetAsia has reported.
Yello O2O provides technology that assists online-to-offline businesses in industries such as healthcare, accommodation and finance, and it plans to use the funding to strengthen its offering in the former two. It also intends to accelerate its M&A activity.
Tae-young Choi, chief executive of Yello O2O, said: “This investment drives Yello O2O to expedite completing its mission to lead the O2O market and to show continued growth.”