Kyash operates a mobile-first banking app that enables consumers to make online and offline payments, remit money, withdraw from ATMs, and use virtual and physical prepaid Visa debit cards. The company carved out its white-labeled card-issuing platform to infcurion last year and is now focused on direct-to-consumer channels. Kyash holds a fund transfer license (2017) and a prepaid debit card license (2020) from Japanese authorities. Management says the business has achieved unit-economics positivity, and the company saw roughly 22% growth from January to May 2020 per a Fincog report. Kyash plans to use the new proceeds to double headcount and accelerate product growth, and it may consider overseas expansion in the mid- to long term. Total funding to date is about $107.7 million since the company was founded in 2015. Kyash operates a consumer payment app that connects to a prepaid Visa card, offering instant payment notifications, clear balances and lower fees for overseas spending. Founded in 2015 by Shinichi Takatori, the company built its own payment processing system and, through a tie-up with Visa, issues and processes prepaid Visa cards for other fintechs. Beyond the consumer product, Kyash has a B2B payments business that sells issuing and processing capabilities to companies in Japan. It is applying for banking licenses that could enable checking accounts, ATM withdrawals and money remittance, and Mitsubishi UFJ has said it will integrate its card with the Kyash app. Kyash declined to share user numbers; financially it just closed a $14M Series B to fund expansion. Management says it is in discussions with crypto companies, is eyeing overseas expansion (potentially after the 2020 Olympics), and expects to raise a "pretty quick" Series C to accelerate growth.

Total raised

$55M

Funding rounds

2

Latest round

Series D

Latest activity

Mar 2022