Japanese telco SoftBank invests in startup Splyt in hunt for super app

TOKYO: Japanese telco Softbank Corp said on Thursday it led a $19.5 million funding round in startup Splyt, which helps app operators integrate mobility options with other services, as it seeks to build its own super app.

Japanese tech firms have lagged peers such as Tencent Holdings, with its WeChat app, in creating super apps, which offer access to a range of services via a single interface.

SoftBank will take a “significant stake” in Splyt, which has helped integrate ridehailing into apps such as Alibaba Group’s Alipay and Grab, backed by SoftBank Group Corp, with the deal focused on using the technology with its own services.