Line Corporation, the Japanese subsidiary of South Korean internet company Naver Corporation, has entered into a ‘capital alliance’ with investment management firm Folio, which will see its service integrated into the Line messaging app.
Following a Line investment in Folio, the pair will work to implement the service on the Line app – which now boasts over 71m monthly users in Japan, according to the company.
Folio’s service, which was released in beta in November 2017, provides a way for people to manage their investments, while enabling users to make investments based on common themes. Its introduction to the Line messaging app is part of Line’s aim for people to use its platform as a ‘smart portal’ where they can connect with people, information, services, brands, and companies.
“I am overjoyed at the opportunity to provide the Folio service on the Line platform, which is made possible by this alliance with Folio, said Takeshi Idezawa, representative director, president, and CEO of Line. “With Folio's never-before-seen style of investing based on common themes, together with its highly-refined UI, the service makes investing even more accessible to users. Not only is this beneficial for experienced investors, but also serves as an investment opportunity for novice investors who are interested but haven't gotten started, as well as those who are unfamiliar with the idea of investing.
“Further, we believe that online securities will play a vital role in Line's smart portal strategy going forward. We will be working together to strive to make users' lives even more convenient and fulfilling through this service.”