Metaps, a Japan-based smartphone transaction application company, has raised $4.2m in from a local consortium of corporate and independent venture capital firms.
The $4.2m came from local systems integrator Intec’s corporate venturing unit Intec IT Capital, Neostella Capital (the VC formed in 2008 out of the merger of Mizuho Securities and Dai-ichi Life Insurance’s respective units), Tokyo-listed internet business NGI Group, Nippon Venture Capital and Sumitomo Mitsui Banking Corporation’s SMBC Venture Capital.
Metaps is a reward advertisement network that offers software developers a platform for advertising through a CPI (cost-per-install)-based traffic model.