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Japanese Fintech Startup Raises Funds Despite Virus Chilling VCs

  • Kyash closes $45 million in financing for payment service
  • Online services aim to take on far larger traditional lenders
Shinichi Takatori, chief executive officer of Kyash Inc.
Shinichi Takatori, chief executive officer of Kyash Inc.Source: Kyash Inc.

Kyash Inc., a Tokyo-based digital banking startup, has raised $45 million from investors at a time the coronavirus outbreak threatens to dry up venture capital funding.

The Series C round was co-led by Greenspring Associates Inc. and Goodwater Capital, bringing the total raised by the company to date to $73 million, Kyash Chief Executive Officer Shinichi Takatori said in an interview. Kyash, which also counts Jafco Co. and Japanese banks Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. among its investors, will use the funds to expand its digital banking offerings.