Japan’s Credit Saison to invest in YC-backed universal credit card developer Coin



Japan’s Nikkei reported today that Japan’s third largest credit card issuing company Credit Saison (TSE:8253) will invest in San Francisco-based Coin, the Y Combinator-backed startup that has been developing a technology rolling up to eight conventional magnetic stripe credit cards into a single digital card. Details of the investment has not been disclosed but it is understood Coin will raise several million dollars from Credit Saison. This will be the first investment for a Japanese credit card company to invest in startup in the US.

The article says that Coin is looking to expand to Japan in one to two years and aims to expand to other Asian countries with support from the credit card company.

Credit Saison has invested in several Japanese startups developing fintech services, such as mobile payments processing company Coiney, consumer rewards startup Kanmu, and personal accounting startup Money Forward.