Japan’s P2P lending platform Crowdcredit raises $1.7 million from trading giant Itochu

CEO Sugiyama visits Peru to study local market conditions.
Crowdcredit CEO Tomoyuki Sugiyama visits Peru to study local market conditions.
(Photo courtesy of Crowdcredit)

See the original story in Japanese.

As Nikkei reported last week, Tokyo-based Crowdcredit, a startup behind a peer-to-peer lending platform focused on financing emerging markets under the same name, officially announced on Monday that it has fundraised 200 million yen ($1.7 million) from Japanese trading house Itochu (TSE:8001). According to the Nikkei article, Itochu has taken an 18% stake in the lending company, so the latter’s market cap is valued at over 1 billion yen ($8.4 million).

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Crowdcredit will use the funds to enhance features on the lending platform, looking to give users currency-hedging options, which will make Japanese users more likely to invest. Having dealt with funding projects for individuals and SMEs in Peru, they will expand the coverage to other countries like Mexico, Italy, Spain, and Finland from April.

Crowdcredit fundraised from Femto Startup just after its launch in 2013, and subsequently secured additional funding from Monex Ventures, GCI Capital, and Femto Startup in July. Details of these investments have not been disclosed. With this investment round, Itochu has become the second-largest stockholder for Crowdcredit.


Edited by Kurt Hanson