TLDR: Smartpay raises $7m in Pre-Series A funding round
Smartpay, a Japanese-embedded FinTech company, has secured $7 million in a pre-series A round from SMBC Venture Capital and Angel Bridge VC. The company offers a digital embedded finance system in Japan that provides convenient digital financing and instalments for consumers. Smartpay also helps merchants by managing fraud risk, increasing conversion rates, and lowering cart abandonment rates on eCommerce websites.
Smartpay has brought together investors with deep experience in the FinTech industry from Japan, Europe, and America. The company’s digital financing service, “Smartpay Bank Direct,” allows customers to pay for online purchases straight from their bank accounts, catering to the 70% of Japanese consumers who prefer not to pay by credit card. Smartpay’s integration process is fast, automating Apple Pay and Google Pay, and recently launched Japan’s first fully digital in-store payments with free automated instalments.
Overall, Smartpay’s innovative solutions benefit both consumers and merchants in the digital payment landscape in Japan, offering a seamless and secure financial experience.
