Fintech firm AlpacaJapan completes Series B round fundraising
The firm announces completion of its Series B round fundraising totaling over 1 billion yen through third-party allotment to SBI Group and Minkabu The Infonoid, Inc.
Japanese expert in the development of financial products utilizing AI and big data technology AlpacaJapan Co., Ltd. today announced the execution and completion of its Series B round fundraising totalling over 1 billion yen through third-party allotment to SBI Group and Minkabu The Infonoid, Inc.
The Series B round marks the first strategic fundraising since the last Series A round in September 2018 which centered on MUFG Bank, Ltd., SMBC Venture Capital 4 Investment Limited Partnership, Innovative Venture Fund Investment Limited Partnership, CSV Venture Fund Limited Liability Partnership, D4V Investment Limited Partnership and Archetype Venture Fund Investment Limited Partnership. The cumulative procurement amount including the Series A round has reached 2 billion yen.
Morifumi Yotsumoto, Co-Founder & CEO of AlpacaJapan, commented:
“Starting with the globally affected coronavirus outbreak, the financial market for the last few months is reminiscent of the ‘Lehman shock’ in 2008 which I myself directly experienced, and I think various changes are required in the Fintech industry which we belong to. I would like to express my sincere appreciation to SBI Group and Minkabu The Infonoid, Inc. for their support as our new strategic partners during this very difficult time. We are committed to accelerate with various partners in order to bring new financial intelligence to the society through the ideal collaboration of financial professionals and technology which is what we constantly hold in our hearts”.
Morifumi Yotsumoto also revealed that AlpacaJapan intends to enter into the financial platform business for Independent Financial Advisors.
“In addition to our existing Artificial Intelligence (AI) centric B2B Capital Market Solution Business, we are also in the midst of preparation to enter into a new financial platform business for Independent Financial Advisors (IFA) where we will further explore the potentials of AI and strive to be a technology company that can cut through the collaboration platform of Human x AI in the financial market/system,” Morifumi Yotsumoto said.