SmartBank secures $26M for its personal finance management app

Quick Summary:

The majority of the aging population in Japan still prefers using cash for transactions, according to a recent report citing government data.

In 2023, cashless transactions in Japan totaled 126.7 trillion yen ($885 billion), accounting for 39.3 percent of all spending in the country, said the Japanese government.

The startup will use the new capital to double down on hiring from 49 staff in October to around 100 employees by 2025; half of the total workforce will be the engineering team, SmartBank CFO Yuta Shimogawara said in an exclusive interview with TechCrunch.

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Article Details

Author / Journalist: Kate Park

Category: StartupsBusiness

Markets: United StatesJapan

Topics: Japan startups Fintech Personal Finance Management SmartBank Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 03:00:00 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 802 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23542200

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