A Tokyo-based fintech company called Kyash has raised $41.2 million in a Series D funding round which saw participation from the Block.
has raised $41.2 million in a Series D financing round. Kyash was founded in 2015 and is a fintech platform that provides its users with a digital wallet and mobile banking services. The Nikkei Shinbun report notes that the funding round gives Kyash an approximate $107.7 million in total funding.
While Jack Dorsey’s Block participated, the firms’ Japan Post Investment Corporation, Stepstone Group , JAFCO Group, Greyhound Capital, Mitsui Sumitomo Insurance Capital, Altos Ventures, Goodwater Capital, Yitu Capital, and SMBC Nikko Securities also joined in on the Kyash funding round. The president of Kyash explained that the Block was a “leader in financial innovation in the U.S. and other countries.
Kyash’s user-first, mobile-first philosophy and design is a key component of the global, irreversible trend toward unbundling traditional financial institutions and rebuilding them using technology., Kyashi explains the firm plans to increase product growth and the company’s number of employees.
The business firmly believes that “rebundling financial services with technology” will bolster the company’s growth. “[The Series D financing] will greatly contribute to strengthening the financial base for further accelerating business expansion in the future,” Kyashi’s announcement concludes.
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