Kyash Company Profile

Background

Company Overview

Kyash Inc., established in January 2015 and headquartered in Tokyo, Japan, is a fintech company specializing in mobile banking and payment services. The company aims to revolutionize Japan's financial landscape by offering innovative, user-friendly financial solutions. Kyash's mission is to create a new culture of money that aligns with people's lifestyles, enabling the free transfer of values and thoughts through a new infrastructure for value movement.

Mission and Vision

Kyash's mission is to become a new infrastructure for value transfer, facilitating seamless and efficient financial transactions. The company's vision is to create a new culture of money that resonates with individuals' lifestyles, allowing for the free exchange of values and ideas.

Industry Significance

As a challenger bank in Japan, Kyash plays a pivotal role in promoting cashless transactions and financial inclusion. By offering mobile banking services, prepaid Visa cards, and payment processing solutions, Kyash contributes to the modernization of Japan's financial services sector.

Key Strategic Focus

Core Objectives

Financial Inclusion: Provide accessible financial services to a broad demographic, including those underserved by traditional banks.

Innovation in Payments: Develop and implement cutting-edge payment solutions to enhance user experience and transaction efficiency.

Expansion of Services: Broaden the range of financial products and services offered to meet diverse customer needs.

Areas of Specialization

Mobile Banking: Offer a comprehensive mobile banking app that enables users to manage finances, make payments, and access financial services conveniently.

Prepaid Visa Cards: Issue virtual and physical prepaid Visa debit cards, allowing users to make online and offline purchases.

Payment Processing Solutions: Provide businesses with payment processing services, including card issuing and transaction processing, to streamline financial operations.

Key Technologies Utilized

API-Based Payment Processing: Develop proprietary payment processing technology that allows businesses to issue their own Visa cards and manage transactions efficiently.

Mobile Application Development: Utilize advanced mobile app development frameworks to create a seamless and secure user experience.

Primary Markets Targeted

Individual Consumers: Provide financial services to individuals seeking convenient and accessible banking solutions.

Businesses: Offer payment processing and card issuing services to companies aiming to enhance their financial operations.

Financials and Funding

Total Funds Raised

As of March 2022, Kyash has raised approximately 12.8 billion yen (about $107.7 million) in total funding since its inception in 2015.

Recent Funding Rounds

Series D (May 2022): Raised 4.9 billion yen (approximately $41.2 million) from investors including Japan Post Investment Corporation, Block (formerly Square), Greyhound Capital, SMBC Nikko Securities, Altos Ventures, Goodwater Capital, StepStone Group, JAFCO Group, Mitsui Sumitomo Insurance Capital, and others.

Series C (March 2020): Secured 4.65 billion yen (about $45 million) to accelerate its full-stack mobile banking business.

Series B (July 2019): Raised 1.5 billion yen (approximately $14 million) led by Goodwater Capital and Mitsubishi UFJ Capital.

Notable Investors

Block (formerly Square): Participated in the Series D funding round, marking its first investment in an Asia-based company.

Japan Post Investment Corporation: Invested in the Series D round, reflecting confidence in Kyash's potential.

Goodwater Capital: Led the Series B funding round, indicating strong support for Kyash's growth trajectory.

Utilization of Capital

The funds raised are primarily allocated towards:

Product Development: Enhancing and expanding Kyash's suite of financial products and services.

Market Expansion: Increasing market presence and user acquisition efforts within Japan.

Operational Scaling: Strengthening operational infrastructure to support growth and ensure service reliability.

Pipeline Development

Key Pipeline Candidates

Kyash Direct: A payment platform that enables businesses to issue their own Visa cards and manage payment processing through an API-based system.

Stages of Development

Kyash Direct: Launched in April 2019, this platform is designed to streamline payment processing for businesses by providing a comprehensive solution for card issuing and transaction management.

Target Conditions

Businesses Seeking Payment Solutions: Kyash Direct targets companies looking to enhance their payment processing capabilities and offer branded payment solutions to their customers.

Anticipated Milestones

Platform Adoption: Encouraging widespread adoption of Kyash Direct among businesses in Japan.

Service Expansion: Extending the range of services offered through Kyash Direct to meet diverse business needs.

Technological Platform and Innovation

Proprietary Technologies

Kyash Direct Platform: An API-based payment processing system that allows businesses to issue Visa cards and manage transactions efficiently.

Significant Scientific Methods

API Integration: Utilizing robust API integration to facilitate seamless payment processing and card issuing for businesses.

Mobile Application Security: Implementing advanced security protocols to ensure the safety and privacy of user transactions.

Leadership Team

Executive Profiles

Shinichi Takatori – CEO: A former banker and management consultant, Takatori founded Kyash in 2015 with the vision of transforming Japan's financial services through innovative mobile solutions.

Hiroyuki Torigoe – Vice President: With a background in financial engineering and risk management, Torigoe has held leadership roles in consumer finance and fintech companies, contributing to Kyash's strategic direction.

Naoshi Kitazawa – External Director: A lawyer with experience in fintech and cryptocurrency, Kitazawa has served in various legal and strategic roles, including as the representative director of Coinbase Japan.

Shuya Ogawa – External Director: Specializing in corporate law, Ogawa has been involved in venture capital and startup ecosystems, providing legal expertise to multiple startups.

Tadaaki Kimura – External Director: A certified public accountant with experience in IPO support and corporate governance, Kimura has served as an external director for various companies.

Masahito Ito – External Director: With a background in finance and IPOs, Ito has held executive roles in multiple companies and currently serves as an external director for Kyash.

Competitor Profile

Market Insights and Dynamics

The Japanese fintech market is experiencing significant growth, driven by increasing adoption of cashless payments and digital financial services. Kyash operates in a competitive landscape with several key players offering similar services.

Competitor Analysis

Revolut: A global fintech company offering mobile banking services, including prepaid cards and currency exchange.

Monzo: A UK-based challenger bank providing mobile banking solutions with features like instant notifications and budgeting tools.

PayPay: A Japanese mobile payment service offering QR code-based payments and financial services.

Strategic Collaborations and Partnerships

Kyash has established partnerships with several financial institutions and investors to strengthen its market position:

Visa: Partnered to offer prepaid Visa cards and payment processing solutions.

Japan Post Investment Corporation: Invested in the Series D funding round, supporting Kyash's growth initiatives.

Operational Insights

Kyash differentiates itself through its mobile-first approach, user-friendly interface, and comprehensive suite of financial services, catering to both individual consumers and businesses. The company's focus on innovation

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