Habitto, a Japan-based digital bank developed to offer financial advice primarily aimed at financial novices, has raised USD 11.7 million in its Series A funding round. The announcement, made on Thursday, 28 November 2024, highlighted that the raised capital will support Habitto in expanding and developing its digital banking platform. The funds will also be used to design new financial products targeting young customers across Japan.
The funding round was led by QED Investors and DG Daiwa Ventures, with additional contributions from Anthemis Group and Scrum Ventures, as well as existing backers including Saison Capital, GMO Venture Partners, Cherubic Ventures, and Epic Angels. The platform emphasizes a savings interest rate of 0.3% and provides secure and efficient features, including investment and insurance options within its application. Clients also have the possibility to access online human financial advisers to help them meet their financial goals and make optimized decisions.
Recognizing the local preference for personalized services, Habitto has introduced real-person financial consultations through video and chat functions within its app. This feature aims to help users take secure first steps into investing or purchasing insurance. With this funding, Habitto will continue focusing on meeting the needs, preferences, and demands of its clients and users in an evolving market, while ensuring compliance with industry regulatory requirements and laws.
Habitto raises $11.7 million in Series A
The funds will enable Habitto to further its mission of providing a connected financial experience and accessible financial advice through its mobile app. Samantha Ghiotti, Co-founder, commented, “We’re fortunate to have the support of a globally experienced investor like QED, paired with the local expertise of DGDV.
It’s certainly a challenging funding environment, but we’ve found partners with deep experience and knowledge in FinTech. We saw strong interest in the Japanese market from global investors throughout this round, and we’re excited for those making their way into the market for the first time.”
Habitto initially raised a $3.4 million seed round in September 2021, led by Saison Capital, followed by a $3.9 million pre-A financing round in February 2023, co-led by Saison Capital and Cherubic Ventures. With the recent completion of the $11.7 million Series A, Habitto’s total capital raised now stands at $19 million.
Sandeep Patil, Partner & Head of Asia at QED Investors, expressed his enthusiasm, “We are enthusiastic about partnering with Habitto. Japan’s FinTech market is primed for innovation, with recent economic shifts drawing investor attention. Sam and Liam, and the experienced team at Habitto have shown early success, securing key partnerships and licenses, and are well set to build a compelling proposition for the market.
This is our first investment in Japan, and we are thrilled to be a part of the community.”
