We are pleased to announce our additional investment in SmartBank Inc. (Headquarters: Shinagawa, Tokyo; CEO: Shota Horii; hereinafter referred to as “SmartBank”), the company behind the household budgeting pre-paid card “B/43,” as part of the 1st close of its Series B funding round. This investment was made in collaboration with several existing shareholders, SMBC-GB Growth No. 1 Investment Business Limited Partnership, Seven Bank, Ltd., and the Yuucho Spiral Regional Innovation No. 1 Investment Business Limited Partnership.
Through this third-party allotment of shares, SmartBank has raised JPY 2.93 billion, completing the 1st close of its Series B round, which also includes JPY 1.15 billion in debt financing secured from multiple financial institutions in April 2024. As a result, the company’s cumulative funding since its inception has reached JPY 7.08 billion.
(Related link: https://prtimes.jp/main/html/rd/p/000000050.000080496.html)