Japan-based online mortgage portal developer iYell has secured ¥1.65bn ($15.3m) from 25 investors including several corporate backers.
The round included real estate developer Mitsubishi Estate, insurer Sompo Japan Nipponkoa, solar power system producer West Holdings, payment services firm Credit Saison and mortgage loan providers Aruhi Corporation and Mortgage Service Japan.
Financial services firms Nanto Bank, Shizuoka Bank, Bank of Iwate, Bank of Fukuoka, Bank of Yokohama, Chiba Bank, Yamanashi Chuo Bank, Senshu Ikeda Bank and SBI Group have also taken part.
The banks invested through subsidiaries Nanto CVC, Shizuoka Capital, Iwagin Jigyo Souzou Capital, FFG Venture Business Partners, Yokohama Capital, Chibagin Capital, Yamanashi Chugin Management Consulting, Senshu Ikeda Capital and SBI Investment respectively.
Property holding company Nomura Real Estate Holding participated in the round through NREG Innovation Fund I Investment, a fund managed by its venture capital subsidiary, NN Corporate Capital, as did VC firm Global Catalyst Partners Japan and eight unnamed corporates.
Founded in 2016, iYell has created a mortgage platform that helps users secure mortgages from a variety of sources while also automating parts of the process for businesses on the platform, which has signed up more than 1,000 real estate and housing companies and 14 financial firms.
The company had previously received $5.8m from investors including SBI Investment, Global Catalyst, Mizuho Capital and Mitsubishi UFJ Capital, vehicles for financial services firm Mizuho Bank and Mitsubishi UFJ, in September 2018.
