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Fintech startup Kyash raises USD 41.2 mln funding round

Monday 21 March 2022 09:02 CET | News

Japan-based fintech Kyash has secured USD 41.2 million in Series D funding to increase its team and product growth.

Kyash offers a mobile banking app that enables consumers to make online and offline payments, remittances, and ATM withdrawal services. In addition, Kyash, the issuer of Visa cards, provides flexibility by issuing virtual and physical pre-paid debit cards.

The fintech currently focuses on the Japanese retail market, adding that it may consider overseas expansion in the mid- to long term. The company has obtained two licenses, a prepaid debit cards license in 2020 and a fund transfer license in 2017 from the government to operate its financial services in Japan.

According to the press release, with social distancing being enforced globally during the COVID-19 pandemic, cashless payments are gaining popularity. Therefore, based on a report by Fincog, Kyash grew about 22% from January to May 2020. Company officials believe that their user-first and mobile-first philosophy, together with their product architecture will allow Kyash to evolve upon rebundling the financial services and technology.


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Keywords: fintech, startup, Issuer, Visa, cashless, funding
Categories: Payments & Commerce
Companies:
Countries: Japan
This article is part of category

Payments & Commerce