Kyash raises $45 million

Digital banking startup Kyash has raised $45 million in a Series C round co-led by Greenspring Associates and Goodwater Capital to accelerate its full-stack mobile banking business in Japan. Additional investors participating in the round include Greyhound Capital, Altos Ventures, Partech Partners, Broadhaven Ventures, Tekton Ventures, JAFCO, and Rahul Mehta, Managing Partner of DST Global.

Founded in 2015, the Tokyo-based startup offers a mobile banking experience to consumers with a mission to create a new financial infrastructure to transform the Japanese banking landscape. Kyash’s “proprietary” payment processing technology facilitates better unit economics and more flexibility around product development, and it has the backing of three major Japanese “mega bank groups.”

“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.” – Shinichi Takatori, founder & CEO of Kyash.