Kyash Inc., a Tokyo, Japan-based creator of a wallet app and payment platform, raised approximately $14m in Series B funding.
The round, which brings Kyash’s total funding to nearly $26m or JPY 2.8 billion, was led by Goodwater Capital, with participation from Toppan Printing Co., JAFCO Co., Ltd., Shinsei Corporate Investment Limited and SMBC Venture Capital Co., Ltd.
The company intends to use the funds to continue to expand operations and its business reach.
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Led by Shinichi Takatori, Founder & CEO, Kyash offers a prepaid-debit based mobile wallet app that allows consumers to make payments at Visa merchants and peer to peer transfers. Its proprietary Visa card issuing and payment processing technology platform for businesses allows them to instantly issue their own Visa cards to their customers through Kyash’s APIs.
The company obtained a Visa principal license and has provided services in partnership with Visa since the launch of its wallet app in April 2017.