Kyash, a Japanese financial app, announced on Tuesday it secured $45 million through Series C funding round, which was co-led by Greenspring Associates and Goodwater Capital with participation from Altos Ventures, Partech Partners, Broadhaven Ventures, Tekton Ventures, and Rahul Mehta, Managing Partner of DST Global. Kyash claims this is the first time Greenspring Associates, Partech, and Broadhaven Ventures have invested in a Japanese startup.
The total funds raised by the startup is now up to $73 million. Founded in 2015, Kyash reported it is working on creating the next infrastructure for money exchange by providing mobile payment/banking to consumer and financial platform to businesses to transform Japanese financial landscape.
“Kyash’s proprietary payment processing technology facilitates better unit economics and more flexibility around product development. Investors in the company include all three major Japanese mega bank groups, as well as global venture capital firms. Kyash has also made its APIs available to other business partners for their payment services by issuing Visa cards.”
Speaking about the company’s development, Shinichi Takatori, Founder & CEO of Kyash, stated:
“We are confident that our focus on developing proprietary payment technology and strategic merchant network partnerships continues to bring value to users and addresses the need for remote financial transactions in a digital economy.”
Kyash added the funding will be used to further its overall growth strategy and business domain expansion, particularly into the banking space.