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Tokyo-based One Visa, the Japanese startup that helps companies streamline visa management for their foreign employees, announced today that it has secured about 450 million yen (about $4.2 million US) in the latest round. Participating investors are Zenhoren (Japanese rental guarantee obligation company), Seven Bank (a bank by Seven-Eleven convenience store chain), Ogaki Kyoritsu Bank, Canal Ventures (investment arm of Japanese system integration company Nihon Unisys), CyberAgent, and Anri. The figures include loans from Japanese Finance Corporation.
Prior to this round, One Visa has secured secured 36 million yen (about $324,000 US) from Primal Capital and Skyland Ventures back in June of 2017 followed by 50 million funding from Anri back in November of 2017. That latest funding brings their funding sum to about 540 million yen. The company says they will use the funds at this time to accelerate advertising and hiring people to strengthen sales and marketing efforts.
Regarding business partnership with the companies participating in the round, One Visa will explore collaboration potential with Zenhoren through the latter’s rental guarantee business while establishing the scheme allowing foreigners to create their banking account in partnership with Ogaki Kyoritsu Bank by means of doing so with Seven Bank since December. Gifu Prefecture where Ogaki Kyoritsu Bank is headquartered is also known for having many foreign residents working for automobile factories located in the area.
One Visa was initially launched as a service helping companies streamline visa acquisition and management for their immigrant employees. With the expansion of its service lineup to include education (One Visa Education), employment referral (One Visa Work), One Visa (visa acquisition and management), and One Visa Connect (living support), it will become possible to provide extensive support for foreign workers, from working to living or other every aspect of their whole lives.
Okamura himself has worked for the Tokyo Immigration Bureau in Shinagawa, Tokyo and had a hand in issuing visas for some 30,000 foreigners. More than 400 companies have introduced it since the beta launch in June 2017. The company graduated from the 4th batch of Recruit’s Tech Lab Paak accelerator, and came in 4th place at IVS 2017 Spring Kobe’s LaunchPad.