Japanese fintech firm Paidy raises $143m from PayPal, others

Japanese fintech firm Paidy has raised a total of US$143 million in series C funding and debt financing from new and existing investors.

PayPal Ventures, Soros Capital Management, JS Capital Management, Tybourne Capital Management, and an undisclosed company invested in Paidy as part of the firm’s US$83 million series C round, according to the statement.

The debt financing, on the other hand, included US$52 million from Goldman Sachs Japan and US$8 million from Mizuho Bank, Sumitomo Mitsui Banking Corp., and Sumitomo Mitsui Trust Bank.

Paidy plans to increase its customer base to reach 11 million accounts by the end of 2020 by acquiring large-scale merchants and offering additional financial services.

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Source: Japanese fintech firm Paidy raises $143m from PayPal, others