Japan-Based Fintech Habitto Raises a Further US$3.9 Million In Pre-A Financing Roundby Fintech News Singapore February 8, 2023
Habitto by SJ Mobile Labs, a Japan-based startup looking to change financial habits through a mobile bancassurance platform, has raised US$3.9 million in a pre-A financing round.
The round was co-led by Saison Capital and Cherubic Ventures. It was also joined by new investors DG Daiwa Ventures, GMO Ventures, Kyokuto Securities, Epic Angels and angel investors from the finance industry across the globe.
This latest financing round follows the seed round where the company raised US$3.4 million in September 2021 led by Saison Capital, bringing Habitto’s total funds raised to US$7.3 million.
Habitto is looking to take on the financial anxiety that the Japanese face about their future. The mobile offering connects savings, investment and life insurance products supported by digitally enabled financial advisors.
SJ Mobiles Labs, the operator of Habitto, was the first non-Japanese company to be issued the New Financial Service Intermediary license in October 2022.
The Habitto team completed a closed beta providing free financial advice to participants in December 2022 and plans to launch to the public in the second quarter of this year.
“The financial advice offered in our private beta showed really promising results.
Most participants had little previous experience, if any, with independent financial advice, however, most recognised the need and indicated a willingness to pay for access to independent financial advice,”
said Liam McCance, Chief Creative Officer and Co-founder.
“We are thrilled about this endorsement from our existing and new investors, especially in this challenging financing environment.
As we continue to deliver on our plan we continue to attract local and global investors with an interest in the Japanese fintech space. The fresh financing will support our public launch which is on track for this year.”
said Sam Ghiotti, CEO and Co-founder.
“Introducing today’s generation to new money habits requires engaging with them through a new voice and we’re excited to see how Habitto’s platform has sparked this conversation digitally.
Doing so not only empowers consumers with more know-how but gives financial service providers a fresh way to connect with Japan’s investment-curious,”
said Chris Sirise, Founding Partner of Saison Capital.