Japan’s Kyash collects $45m in its Series C round

Japanese digital bank Kyash has collected $45m in its Series C round, coming less than a year after it closed its Series B on $14m.

The new capital infusion was co-led by Greenspring Associates and Goodwater Capital. Other contributors were Greyhound Capital, Altos Ventures, Partech Partners, Broadhaven Ventures, Tekton Ventures and DST Global managing partner Rahul Mehta.

This deal marks the first investment into a Japanese startup for Greenspring Associates, Partech and Broadhaven Ventures.

With the fresh equity line, the FinTech is hoping to deepen its growth and expansion strategy, with a particular focus on the banking space, it said.

Kyash allows consumers to connect all of their debit cards and use them through the Kyash debit card.

The FinTech also offers users a mobile app where they can link all of their payment cards, easing he management of finances. Users can set spend limits, turn on or off oversea payments and lock the cards.

Whenever a cardholder uses Kyash for a transaction, a notification is sent in real-time to the user’s phone so they can better identify if someone else has been using the card.

Kyash founder and CEO Shinichi Takatori said, “I am delighted to announce Kyash’s partnerships with these global investors as a result of the company’s progress in product development and significant user traction in Japan amid the uncertain market conditions resulting from the widespread effects of the pandemic.

“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.”

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