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The banking service went into public in July 2017 in getting a huge spotlight mainly due to its simplicity and unique and intuitive UI and UX. The bank attracted more than 240,000 customers within the first 24-hour-operation. The mobile app-based lender has achieved more than 10 million customers by July 11, 2019.As of March 31, 2021, kakaobank's customer volume is more than 14.2 million.
Valuation
In October 2020, the corporate valuation of the South Korean largest neobank was set around KRW 8.6 trillion through KRW 750 billion-capital raising from the U.S-based private equity TPG Capital and current shareholders.
IPO
On September 25, 2020, kakaobank officially announced its IPO plan to public.
The bank picked KB Security and Credit Suisse as lead managers for its IPO, with Citi as a co-manager.
According to a local media report, kakaobank would submit the IPO application to Korean exchange on April 15, 2021.
