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- As per a report by Nikkei, in a Series D financing round, a Tokyo-based financial technology company Kyash has raised $41.2 million. Kyash now stands at $107.7 million (12.8 billion JPY) in total funding.
- Further, according to the Nikkei reports, Kyash’s user-friendly mobile-first philosophy and design will be the core component of the global, irreversible trend of unbundling conventional financial institutions and rebuilding them via technology.
- According to the official release, the company aims to expand the number of employees in the company and increase the growth of the product.
Tokyo-Based Fintech Firm Kyash Receives A Funding Boost From the Block
Kyash, a financial technology (fintech) company, has raised funds worth $41.2 million in a Series D financing round, according to a report by Nikkei. Founded in 2015, Kyash is a fintech platform that offers its users mobile banking services and a digital wallet.
Further, the Nikkei Shinbun report states that in total funding, Kyash reaches approximately $107.7 million (12.8 billion JPY).
Along with Jack Dorsey’s Block, various companies including JAFCO Group, Greyhound Capital, Goodwater Capital, Stepstone Group (formerly Greenspring Associates), Yitu Capital, Mitsui Sumitomo Insurance Capital, Altos Ventures, Japan Post Investment Corporation, and SMBC Nikko Securities have participated in the Kyash funding round.
In other countries including the U.S, the Block was a leader in financial innovation, explained Kyash’s president.
The core component of the global, irreversible trend that aims to unbundle conventional financial institutions and rebuild them via technology, is the user-first, mobile-first philosophy and design of Kyash, explains the managing director at Kyash, according to the reports of the Nikkei Shinbun.
As per the official press release, Kyash shares that the company intends to increase the growth of products and the number of employees in the company. In the Fintech industry, challenger banks are a key component and an irreversible trend of unbundling of traditional banking has unfolded globally, revealed the managing director of Japan Post Investment Corporation in the press release
The business is confident that the growth of the company will be benefitted through the bundling of financial services with technology. At last, Kyash in its announcement states that Series D financing will be a great boost for strengthening the financial base for further expanding its business in the future.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
