TLDR:
Smartpay, a Japanese fintech leader, raised USD $7 million in a pre-series A round oversubscribed by Japanese, European, and American investors. The company offers innovative digital finance solutions and recently launched in-store payments with free automated installments. Smartpay aims to grow to 2 million consumers and 30,000 merchants within the next few years.
Article Summary:
Japanese fintech leader Smartpay recently announced the successful completion of a USD $7 million pre-series A round, with investment from prominent Japanese, European, and American investors. The company, known for its digital embedded finance solutions, has pioneered no interest, no late fees, and free installment offerings at the point of purchase in Japan.
Smartpay has also introduced Japan’s first fully digital in-store payments with free automated installments, allowing merchants to set up the system in just 30 seconds without any integration costs. This innovation aims to streamline the payment process for consumers and enhance the overall shopping experience. The company plans to expand its consumer base to 2 million and onboard 30,000 merchants within the next few years.
Furthermore, Smartpay’s services have proven beneficial for Japanese merchants, with Smartpay users showcasing a higher average order value compared to non-users. The company’s user-friendly checkout process and focus on data privacy have resonated well with consumers and contributed to increased conversion rates and customer satisfaction.
Leading venture capital firms such as SMBC Venture Capital, Angel Bridge, Global Founders Capital, and Matrix Partners have shown confidence in Smartpay’s potential for growth in the Japanese fintech market. These investments highlight the company’s strong value proposition, talented team, and pioneering technology in the digital finance sector.
Smartpay’s CEO, Sam Pemberton Ahmed, expressed enthusiasm about the company’s role in Japan’s digital transformation, emphasizing the importance of providing innovative financial solutions that cater to consumer needs and support merchants in capturing the growing digital economy.
