Minrevi, the Japan-based operator of an online marketplace for funeral homes, has received ¥1bn ($9m) in series C financing from investors including insurer Mitsui Sumitomo Insurance Group, The Bridge reported yesterday.
Mitsui Sumitomo Insurance, which participated through its Mitsui Sumitomo Insurance Venture Capital unit, was joined by Globis Capital Partners, Spiral Ventures Japan, Global Brain and Mizuho Capital.
State-owned financial services provider Japan Finance Corporation supplied ¥150m of the capital in the form of debt.
Founded in 2009 as an online review platform for funeral services, Minrevi has evolved into a service-based entity that links to a network of some 500 funeral service providers and more than 700 Buddhist monks.
The series C cash will support the expansion of Minrevi’s team as it looks to introduce new services and expand its existing options.
Minrevi has not publicly revealed details of its earlier funding but The Bridge identified Mitsui Sumitomo Insurance Venture Capital and Global Brain as existing investors.