Japan-based crowdfunding service Campfire has raised ¥3.6bn ($34.6m) in series D and E funding from investors including e-commerce company Base and retailer Marui Group, it revealed on Friday.
The corporates both took part in the company’s $28.8m series E round, which was led by growth equity firm Minerva Growth Partners and also backed by unnamed existing investors.
The series D investors have not been disclosed but the latest round was closed alongside a $5.8m credit line from Mizuho Bank.
Campfire operates an online service that enables individuals, organisations and businesses to raise crowdfunding in the form of debt or equity financing. The funding will be used to enhance the platform’s angel investment offering.
The company had secured a total of nearly $31m as of a $20m series C round in May 2019 that included trading group Itochu, marketing technology provider FreakOut Holdings, fashion brand World, consulting firm Alliance Partners, department store chain Parco and media companies Ceres and Search Field.
The round also featured KDDI Open Innovation Fund III, Saison Ventures and SB Players – on behalf of telecommunications firm KDDI, payment services firm Credit Saison and telecoms group SoftBank – in addition to financial services firm Ogaki Kyoritsu Bank and Global Brain.
Campfire had raised an undisclosed amount from SB Players in July 2018, after $2.8m from investors including Freakout Holdings, online advertising agency Septeni Holdings and internet companies GMO Internet and DeNA the previous year.
Financial services firm Sumitomo Mitsui Financial Group’s SMBC Venture Capital subsidiary, D4V, East Ventures, ISGS Investment Works, Suneight Investment and individuals including Mamoru Taniya also contributed to the 2017 round.
