Japan-based business development service Infcurion has secured more than ¥2.4bn ($22m) from investors including corporates Ceres, Dai Nippon Printing, Japan Post, Money Forward, TIS and Toppan.
Media company Ceres, printing services firms Dai Nippon Printing and Toppan, accounting technology provider Money Forward and IT services group TIS participated directly, and were joined by financial services firms Mitsubishi UFJ and Resona Bank.
Japan Post Investment invested on behalf of postal services provider Japan Post while Mitsubishi UFJ was represented in the round by Mitsubishi UFJ Capital. It included debt financing supplied by unnamed financial institutions.
Founded in 2006, Infcurion runs consulting, incubation and investment services for payment and financial services providers, using its technology and business development know-how to help entrepreneurs and companies exceute their digitalisation strategies.
The company had raised roughly $7.4m prior to the latest round, according to The Bridge, which cited business data aggregator Startup DB. NTT Data, the IT services subsidiary of telecommunications firm NTT, provided approximately $930,000 for it in April 2020, according to Nikkei.
Financial services group SBI’s venture capital unit, SBI Investment, had taken part in a round of undisclosed size through its FinTech Fund four years before, the proceeds of which were used by Infcurion to create NestEgg, the operator of automated savings app Finbee.
