Tokyo-based mobile financial platform Kyash has raised US$41.2 million (about 4.9 billion yen) in its Series D funding joined by Jack Dorsey’s Block.
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- Kyash has accumulated a total funding of about US$107.7 million since its launch in 2015, which the payment startup will use to increase its workforce and develop its products and services.
- Other investors in Kyash include Japan Post Investment Corporation, Greyhound Capital, JAFCO Group, SMBC Nikko Securities, Altos Ventures, Goodwater Capital, StepStone Group and Mitsui Sumitomo Insurance Capital.
- Kyash is one of Japan’s few challenger banks that provide mobile banking and payment services.
- Kyash is Block’s first investment in an Asia-based company, according to Nikkei.
- Block is preparing to launch its own decentralized Bitcoin exchange platform through its new business venture TBD, which released its white paper last November.
- Longtime crypto enthusiast Jack Dorsey rebranded his digital payments company Square into Block in December last year after resigning from Twitter as CEO.
See related article: Square releases white paper for DEX to allow exchange of crypto, fiat and more