Habitto, a Japanese startup aiming to alleviate the financial worries of the younger generation, has raised 1.8 billion yen in a Series A funding round.
Read also – SeaTown Launches Skyform in Partnership with Entrepreneur Yuan En Lim
Habitto, which offers free financial advice and an integrated financial experience through a mobile app, raised the funding from QED Investors, DG Daiwa Ventures (DGDV) and Scrum Ventures. This marks QED’s first investment in Japan, following other global B2Cs such as Nubank in Brazil, Klarma in the US and Jupiter in India.
Read also – Pi-xcels Secures $2.7 Mn Seed Funding led by Headline
The Series A round also saw the return of investment from Anthemis Group and other existing shareholders.
The Series A funding will be used to accelerate Habitto’s mission to address the financial insecurity facing younger generations and provide access to affordable financial advice. The company has a rapidly growing user base of over 42,000 people and offers free financial planning with digital advisors through its mobile app, personalized advice and help people develop effective money strategies.
Highlights of this funding round:
We raised 1.8 billion yen in this equity financing round.
The proceeds will be used to expand the company’s user base, strengthen its digital banking platform and develop advanced financial tools and services tailored to the needs of Japan’s younger generation of customers, with attractive unit economics.
QED Investors brings global fintech expertise and DGDV brings deep knowledge of the Japanese market, forming a powerful combination to drive Habitto’s growth.
Co-founder and CEO Samantha Ghiotti said of this milestone: “We are fortunate to be backed by a global investor like QED and a partner with local expertise like DGDV. Funding is tough, but both companies have deep experience and knowledge in the fintech space, making them strong partners. We have seen growing interest in the Japanese market and Habitto throughout this round, and we plan to welcome investors into the Japanese market for the first time.”
Habitto raised 500 million yen in funding led by Saison Capital in September 2021, and 580 million yen pre-Series A funding co-led by Saison Capital and Cherubic Ventures in February 2023. Together with this Series A of 1.8 billion yen, Habitto has raised a total of 2.88 billion yen to date.
Co-founder and Chief Creative Officer Liam McCance said, “With this funding and the support of our investors, Habitto will continue to address the financial anxiety many Japanese people have about their future. Just three years after founding, Habitto has raised over 4.7 billion yen in savings accounts, helping many people build better money strategies.”
Sandeep Patil, Head of Asia at QED Investors, commented, “We are excited to partner with Habitto. Japan’s fintech market is ripe for innovation and recent economic changes have captured investor attention. Sam, Liam and the experienced Habitto team have already secured significant partnerships and licenses and are poised to deliver a compelling proposition to the market. This is our first investment in the Japanese market and we are thrilled to be part of the community.”
Daiwa Watanabe, Managing Director of DG Daiwa Ventures, which is co-leading this round, commented through a public relations officer: “Since investing in Habitto in 2021, we have been continually amazed by the company’s remarkable business growth under the leadership of Sam and Liam. This is QED Investors’ first investment in a Japanese startup, and we are honored to co-lead Habitto’s Series A with DGDV and QED. We hope that the involvement of a top global VC from the Series A stage will not only greatly increase Habitto’s chances of growth, but also create a positive trend for Japan’s fintech and startup ecosystem as a whole.”
“We are pleased to once again support Sam, Liam and the Habitto team,” said Sean Park, co-founder of Anthemis Group, who will join the round as an observer on the board. “We’ve followed the company’s growth since the early days and are confident the team will excel in this untapped market. At Anthemis, we believe that true collaboration is the key to success in finance, and the product experience Habitto is creating is a great example of that.”
About Habitto
Habitto is a “digital bank that gives advice” that provides savings, investments, insurance, and advice with the purpose of “End Financial Anxiety”. We support the financial strategies of the younger generation with the highest deposit interest rates in Japan*, debit and cashback, and free, personalized advice.
Habitto was launched by Samantha Ghiotti, an Italian woman who turned venture capitalist and fintech executive, and Liam McCance, a serial entrepreneur from Australia. The company launched as SJ Mobile Lab Japan Co., Ltd. in November 2021 and changed its name to Habitto Inc. in March 2023.
