Kakao Mobility, a South Korean mobility service provider and Kakao affiliate, has acquired UK-based mobility brokerage platform Splyt, marking its first overseas acquisition.
The move will allow Kakao Mobility to secure a base to accelerate its direct entry into overseas markets.
Founded in 2015, Splyt is a global brokerage platform that connects in-app service providers with user demand through international API standardization.
It provides solutions for on-demand services, including ride-hailing, micro-mobility, and public transportation.
The platform’s customers include Uber, Grab, Careem, Cabify, Trip.com, and Booking Holdings.
Kakao Mobility’s global expansion strategy for 2022 is based on three pillars: outbound services for domestic users to use the Kakao T app overseas, inbound services for foreign users in Korea, and direct entry into overseas markets targeting expats.
With the acquisition of Splyt, Kakao Mobility aims to strengthen its overseas direct entry strategy by securing local demand and supply chains.
In addition, Splyt will benefit from increased financial stability and the potential to develop a more scalable business under Kakao Mobility.
Alex Ryu, CEO of Kakao Mobility, expressed his excitement about the acquisition, stating that the partnership with Splyt will allow them to take their overseas expansion to the next level.