SEOUL, South Korea, March 3, 2023 /PRNewswire/ -- GLN International, a global QR payment/withdrawal platform, announced the successful completion of a strategic investment from four domestic and international institutions. The investment was made by Korea's KB Digital Platform Fund, Taiwan's Taishin International Bank, Japan's Sumitomo Mitsui Trust Bank and Korea's Kakaopay.
The investment could be made at the estimated value of 110 billion KRW(83.7 million USD) based on the investors' recognition that GLN's business model and potential to be successful, despite the current economic downturn. The company plans to use the investment to further strengthen its leading position in the global QR payment/withdrawal platform market by speeding up the strategic alliance between global banks, payment networks and distributors.
GLN was spun off from Hana Bank in July 2021 and has been forming partnerships with domestic and foreign financial institutions since then. The company currently provides QR payment/withdrawal and tuition payment services in global areas such as Japan, Vietnam, Thailand, Taiwan, Hong Kong, Singapore, Laos, and Guam.
The inquiries about potential alliance and investment opportunities with multiple global financial institutions and digital platforms are continuing, which may expand the service coverage and improve the service quality.
Customers can use the GLN service through Hana Bank's Hana 1Q app and Hana Card's Hana Money app, and Toss app, allowing users to easily and safely make payments and withdrawals simply by scanning a QR code.
Han Jun-seong, CEO of GLN International, said, "In order to expand the global QR financial ecosystem, the participation of domestic and foreign super app operators should be the key," and "through the formation of this alliance, GLN plans to amplify the global QR payment/withdrawal coverage and plays a role in leading various areas of related business.