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Japanese car subscription startup Nyle secures up to $50M via equity and loans

The Bridge The Bridge
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See the original story in Japanese. Tokyo-based Nyle, the company behind a car subscription service called Carmo, announced on Monday that it has secured about 3.7 billion yen (about $35.7 million) in the latest funding round. Participating investors are Dimension (investment arm of Dream Incubator), JIC Venture Growth Investments (JIC-VGI), Environmental Energy Investment, Hakuhodo DY Media Partners, SBI Group, Nippon Venture Capital, Gree Ventures, Digital Advertising Consortium, and unnamed individual investors. The company also announced that it has signed loan agreements with several financial institutions for a total of up to 1.3 billion yen (about $12.5 million). Prior to this round, the company raised about 1.5 billion yen from several investors including Sparks Group (TSE:8739), SBI Group, and Aoki Group back in April of 2019. The latest round raied the company’s cum of funding (without loans) to date up to 5.57 billion yen (about $53.7 million) Carmo is completely offered online and allows users to use a new car for as little as the 10,000 yen-range (starting at $96 approx.) per month. It has received 45,000 applications from users for three years since its launch back in January of 2018. Using the funds, Nile plans to strengthen its marketing activities,…

Image credit: Nyle

See the original story in Japanese.

Tokyo-based Nyle, the company behind a car subscription service called Carmo, announced on Monday that it has secured about 3.7 billion yen (about $35.7 million) in the latest funding round.

Participating investors are Dimension (investment arm of Dream Incubator), JIC Venture Growth Investments (JIC-VGI), Environmental Energy Investment, Hakuhodo DY Media Partners, SBI Group, Nippon Venture Capital, Gree Ventures, Digital Advertising Consortium, and unnamed individual investors. The company also announced that it has signed loan agreements with several financial institutions for a total of up to 1.3 billion yen (about $12.5 million).

Prior to this round, the company raised about 1.5 billion yen from several investors including Sparks Group (TSE:8739), SBI Group, and Aoki Group back in April of 2019. The latest round raied the company’s cum of funding (without loans) to date up to 5.57 billion yen (about $53.7 million)

Carmo is completely offered online and allows users to use a new car for as little as the 10,000 yen-range (starting at $96 approx.) per month. It has received 45,000 applications from users for three years since its launch back in January of 2018.

Using the funds, Nile plans to strengthen its marketing activities, strengthen alliances with auto repair shops, auto dealers, and gas stations while considering merge and acquire companies with potential synergies.

via PR Times

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Japan’s Appliv, mobile app discovery platform, expands to India and Singapore

Junya Mori Junya Mori
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See the original story in Japanese. Tokyo-based Nyle (previously known as Volare) has been providing a mobile app discovery platform called Appliv since 2012. The company announced earlier this month that it will launch Indian and Singaporean versions of the platform during this month. Nyle unveiled in September that it would start working on the global expansion of the platform. Followed by launch of the platform in Japan, UK, Canada, Australia, the Philippines, Kenya and Ireland, the latest addition will allow them to have a presence in nine different markets. See also: Japan’s Appliv, app discovery platform for mobile users, preparing for global expansion The platform is now available in English only but localized by country because every country has a different language system and unique market circumstance. In our previous interview with Nyle, they claimed that they were to acquire several million users by this spring. English articles reviewing mobile apps are primarily being prepared by the employees at Nyle Asia Pacific, a Filipino subsidiary founded last year. According to the statement, Nyle wants to increase the number of review articles to 10,000 in every market by this summer, to achieve the aforementioned milestone by publishing as many review…

appliv_featuredimage

See the original story in Japanese.

Tokyo-based Nyle (previously known as Volare) has been providing a mobile app discovery platform called Appliv since 2012. The company announced earlier this month that it will launch Indian and Singaporean versions of the platform during this month.

Nyle unveiled in September that it would start working on the global expansion of the platform. Followed by launch of the platform in Japan, UK, Canada, Australia, the Philippines, Kenya and Ireland, the latest addition will allow them to have a presence in nine different markets.

See also:

The platform is now available in English only but localized by country because every country has a different language system and unique market circumstance. In our previous interview with Nyle, they claimed that they were to acquire several million users by this spring. English articles reviewing mobile apps are primarily being prepared by the employees at Nyle Asia Pacific, a Filipino subsidiary founded last year.

According to the statement, Nyle wants to increase the number of review articles to 10,000 in every market by this summer, to achieve the aforementioned milestone by publishing as many review articles as possible.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy

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