[RemitAid Co., Ltd.]
Raised approximately 150 million in pre-series A round first close! “RemitAid” is a cross-border payment platform that solves the problems of overseas transactions.
*RemitAid Co., Ltd.*
Press release: August 20, 2024
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Raised approximately 150 million in pre-series A round first close! “RemitAid” is a cross-border payment platform that solves the problems of overseas transactions.
With the vision of “Supporting Japan as it challenges the world,” we have created “RemitAid,” a global multi-payment platform that makes it easy to do business with overseas companies.
https://remitaid.io/ )
RemitAid Co., Ltd. (Headquarters: Shibuya-ku, Tokyo, Representative Director: Hirohiro Ogawa, hereinafter referred to as the Company), which provides the Through the aforementioned third-party allotment and debt financing, we have completed raising a total of 150 million yen as the first close of the pre-series A round.
We will accelerate business growth to realize RemitAid’s vision of “supporting Japan as it challenges the world.”
* ■Background of funding*
“RemitAid” operated by our company is a cross-border payment platform that can be used for transactions with overseas companies, “digital payment” that can be used at overseas exhibitions, and payment only by local transfer without creating a branch overseas. We offer two payment methods: “Overseas Rakuyasu Transfer”. Currently, we have over 150 customers using digital payments, and we are entering a phase of business expansion. In addition, we have started pre-sales for “Overseas Rakuyas Transfer,” and now we are ready to take on a larger market, leading to this funding.
We plan to use the funds raised this time to actively recruit human resources, develop service functions to meet customer needs, and promote sales to expand our customer base and profits.
* ■Investor comments*
– Mr. Yuto Kono, Principal, Genesia Ventures
We made an additional investment following the initial seed round in 2022. The trade settlement market that RemitAid is challenging is 2,800 in the world.
Although it is a huge market worth trillions of yen, traditional payment and remittance methods remain inefficient and costly due to their complexity, regulations, and customs. On the other hand, the market is undergoing major transformation over the next 10-20 years due to the waves of digitalization and deregulation.
RemitAid is constantly gathering members with extensive experience in the Fintech field, and we will do our best to support them in order to become a company that leads the transformation of the industry.
– Primal Capital Representative Partner Hiroshi Sasaki
In order to fully support Mr. Ogawa and RemitAid in their big challenge, we have moved forward with additional investment. After the initial investment, the evaluation point is that in addition to the steady progress of digital payments, the new business Rakyasu Transfer is also starting to take off.
Acquiring foreign currency will be an important theme for the Japanese economy in the future, but the DX of transactions with overseas companies lags significantly behind that of domestic transactions, resulting in significant opportunity loss and workload.
I look forward to the day when everyone at RemitAid, with their strong beliefs and hard work, will develop essential services for our customers and become a pillar of support for the Japanese economy. Expectations! !
– Animal Spirits Representative Partner Yusuke Asakura
Various barriers to cross-border transactions are a major factor hindering Japanese companies’ overseas expansion. RemitAid is a startup tackling these challenges through its unique payment platform. The company’s services streamline transactions by eliminating high fees, long processing times, and complex procedural steps in international money transfers. Especially for small and medium-sized enterprises, this efficiency improvement will be the key to improving their international competitiveness. We hope that the company’s efforts will contribute to improving the productivity of Japanese companies and the accompanying transformation of the social system. – NOBUNAGA Capital Village Investment Department Leader Masanori Ota
This time, I am excited to be a part of this wonderful support group and take on the challenge of the global payment market (the future of finance) with you all. We strongly sympathize with Mr. Ogawa’s past and vision for the future, and we have invested in this company with the expectation that the service will be expandable.
Going forward, we will make full use of Juroku Financial Group’s resources, co-create new value and services for the region, and do our best to support RemitAid’s further business growth. ONE
Let’s do our best as a TEAM! !
* ■Comment from Representative Director Hirohiro Ogawa*
In Japan, where domestic demand is shrinking, acquiring foreign currency has become an extremely important theme. However, there are many barriers to payment in overseas corporate transactions, and many Japanese companies are struggling with this.
The payment service “RemitAid” provided by us, RemitAid, provides a collection of payment methods that can be used in various situations when Japanese companies conduct transactions with overseas companies. We have raised funds this time in order to provide more value to our customers and take on even greater challenges.
We are very happy that our loyal supporters sympathized with our ideas and business and became supporters.
To realize our vision and mission, we will work more closely with our customers and markets than ever before.
* ■Company profile*
“RemitAid” is a cross-border payment platform that can be used for transactions with overseas companies, and offers two payment methods different from traditional international remittances.
1. “Overseas Rakuyasu Transfer”: A payment service that allows transactions only by local transfer without establishing a branch office overseas.
2. “Digital payment”: A payment service that easily enables credit card payments and local QR payments, both face-to-face and
non-face-to-face.
There are various risks and costs involved in doing business with overseas companies. Damaged or lost products, uncollected debts, adjustments to contract terms, burden of transportation costs…the list goes on and on. By eliminating the risks and costs of doing business with overseas companies and making it smoother, we support Japanese companies that are taking on the challenge of competing in the world.
Company name: RemitAid Co., Ltd.
Address: Hatsudai Center Building, 1-51-1 Hatsudai, Shibuya-ku, Tokyo 151-0061 Representative director: Hirohiro Ogawa
Established: August 8, 2022
URL: https://remitaid.io/company
* ■Recruitment information *
Currently, our company is looking for colleagues to try out the big market together.
Please feel free to contact us using the recruitment requirements below.
* -Recruiting COO candidates-* Would you like to update the Japanese economy with Fintech?
* -Software Engineer Recruitment-* Create architecture and development culture from scratch!