Japan-based digital mortgage platform operator iYell secured ¥1.85bn ($17.7m) yesterday from investors including corporates Dai-ichi Life, Dentsu, Digital Garage, Mitsubishi Estate, Nippon Steel Kowa Real Estate, NTT and Watanabe Pipe.
Insurer Dai-ichi Life, real estate developers Mitsubishi Estate and Nippon Steel Kowa Real Estate, advertising agency Dentsu Group and Watanabe Pipe, the trading firm also known as Sedia System, invested directly while marketing firm Digital Garage and telecommunications firm NTT did so through their DG Ventures and NTT Data subsidiaries.
The round also featured financial services firms MerryGate Holdings, SBI Group, Yamanishi Chugin Management Consulting, Higo Bank, Juroku Bank and Miyazaki Bank, the last three respectively represented by Higin Venture Fund, Juroku Frontier Fund and Miyagin Venture Capital.
Digital Base Capital, Elements Capital Research, Global Catalyst Partners Japan and Innovation Engine filled out the round alongside three undisclosed firms.
Founded in 2016, iYell runs an online mortgage marketplace where homebuyers can secure loans, and its partners include some 2,500 real estate agencies and 135 financial institutions.
The company had previously raised $15.3m in an October 2019 round featuring 25 investors including Mitsubishi Estate, Sompo Japan Nipponkoa, West Holdings and Credit Saison.
SBI had already taken part in a $5.8m round for iYell in 2018 through its SBI Investment unit, together with peers Mizuho Bank and Mitsubishi UFJ, through Mizuho Capital and Mitsubishi UFJ Capital, in addition to Global Catalyst.
