Paidy, a Japan-based cardless payment technology subsidiary of online finance technology provider Exchange Corporation, expanded a series A round featuring trading and technology firm Susquehanna International Group to $8.3m yesterday.
Susquehanna, which took part in the extension through its SIG Asia subsidiary, was joined by Arbor Ventures, which led the $3.3m first tranche of the round, and MS Capital.
Paidy is a cardless checkout service for e-commerce retailers that enables customers to buy goods using only their mobile phone number and e-mail address, and pay for them either immediately or in instalments, while Paidy underwrites each purchase.
CyberAgent Ventures, the corporate venturing unit of internet company CyberAgent, co-led the initial tranche with Arbor in July 2014. Recruit Strategic Partners, the investment arm of human resources company Recruit, and seed investors 500 Startups and Cherubic Ventures also invested in the first tranche.
Tim Gong, managing director of SIG China, joined Paidy’s board of directors in conjunction with the latest funding.