O’Melveny Worldwide

O’Melveny Represents TBCASoft in its Series B Financing

August 13, 2021


HONG KONG—AUGUST 13, 2021—O’Melveny recently represented TBCASoft, Inc. in connection with its US$25 million Series B-1 financing led by Naver Financial Corporation, a subsidiary of South Korea’s internet giant Naver Corporation, with participation from existing investor SoftBank Corp. Upon closing, Naver Financial will become the second largest institutional investor in the company, investing up to US$20 million, while SoftBank, with its up to US$5 million investment in this round, will remain as the largest institutional investor.

TBCASoft is a US-based company developing innovative blockchain technology specifically for telecommunication carriers and mobile payment service providers (MPSP). Its consortium-based blockchain platform enables carriers and MPSP to create innovative services for their subscribers under a more secure, robust and efficient environment.

The O’Melveny team was led by Hong Kong corporate partner Portia Ku, with Shanghai counsel Vincent Lin, associate Qianru Hong, senior paralegal Suzette Clay and legal consultant intern Yutong Xie providing support and assistance.

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Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000