The clothes e-commerce company aims to welcome 15 to 20 local startups to its new program as it also seeks more international brands for its marketplace.

The investment will be used to spin out Kakao subsidiary Kakao Pay as a separate company, giving China-based Ant Financial a foothold in South Korea.

Microsoft, Tencent, eBay, PayPal and Alphabet are reportedly in talks with the e-commerce firm for a round that would value it at up to $12bn.

Baidu, which holds a majority stake in the video streaming platform, supplied $300m as part of the convertible note round, which also included IDG Capital.

One Tap Buy, a personal finance mobile app developer formerly known as MyBanker, has raised new funding in a round that included existing backer SoftBank.

Balance Hero, the developer of a mobile balance management app called True Balance, has raised $14.9m in a round led by SoftBank Ventures Korea.

Media company Bennett, Coleman & Co has supplied $38.8m in capital and advertising to the e-commerce firm, which is reportedly raising up to $1bn in new funding.

The Sina and IDG Capital-backed mobile game publisher plans to use the series B funding to beef up its local incubator activities and global distribution network.

The bike sharing company has taken its 2017 funding to $300m, adding cash from Temasek and Hillhouse Capital to the $215m it raised from investors including Tencent last month.

IAC-backed online dating platform Zhenai is in talks to go public through a reverse merger with Shenzhen-listed aircraft parts maker DEA General Aviation.