TBCASoft Declares Initial Close Of Series B, Raises $25M From Naver Financial, SoftBank Corp To Expand Commercial Growth

The strategic investment by Naver Financial and SoftBank reinforces the shared vision of providing the largest open mobile payment network to offer a ubiquitous merchant acceptance experience. Transaction data is efficiently reconciled in real-time without a single point of failure, making the network highly secure to mitigate fraud risk in a cost-effective way. Ling Wu, Founder and CEO of TBCASoft, and Co-Chairman of the CBSG Consortium said, “We are delighted to introduce Naver Financial as our strategic investor and partner along with SoftBank, teaming up on a mission to foster the development of HIVEX, the blockchain-based global payment network. As a global technology company, it operates the No.1 search engine in Korea, Naver, as well as other online services, such as Line mobile messenger, Webtoon and Webnovel publishing, Snow video camera app and Zepeto metaverse platform. SoftBank Corp. serves more than 45 million mobile consumer and enterprise subscribers in Japan, and as part of its “Beyond Carrier” strategy, it is redefining industries by leveraging its unique strengths as a network operator to fully harness the power of 5G, big data, AI, IoT, robotics and other key technologies.