Payment services firm JCB has paid ¥6bn ($56.4m) to acquire just over 8,700 shares for a 10.2% stake in Japan-based payment automation service operator Net Protections Holdings.
Founded in 2000, Net Protections provides a business-to-consumer (B2C) payment service focused on e-commerce activities. Its lead product, NP Post-Payment (Atobarai), has 14.5 million yearly unique users and has been responsible for processing a combined 200 million transactions.
Marketing group Hakuhodo DY Holdings had bought an unspecified number of shares in the company from private equity firm Advantage Partners in July 2019 for an undisclosed amount.
Leasing services firm Ricoh Leasing had done the same the month before, acquiring more than 10,000 shares from Advantage Partners.
Advantage Partners invested in Net Protections in 2016, providing funding through a special purpose company, four years after it had raised a similarly undisclosed sum from financial services provider Orix.
