Japanese firm FiNANCiE Secures $10.8M Funding from TIS Inc
Japan’s Social Networking Service FiNANCiE secures $10.8M funding from TIS Inc. for global expansion and strategic collaboration.
- Japanese firm Financie successfully secured ¥1.5 billion (around $10.8 million) funding from TIS Inc. in the second funding round, bringing the total raised funds to over ¥2.8 billion (around $20.2 million).
- The collaboration between FiNANCiE and TIS Inc. aims to enhance their businesses by leveraging regional/sports industry token economies and TIS’s social system infrastructure with payment functionalities.
- To prepare for global expansion, FiNANCiE appointed Zaf Chow, ex-Director of Animoca Brands, as an advisor to help grow its community-led creator economy and collaborate with other businesses.
Japan-based firm FiNANCiE has announced recently that it successfully secured ¥1.5 billion or around $10.8 million (₱589 million) funding from Japanese information technology firm TIS Inc.
Funding Rounds
The recent funds were raised from the second round, in total FiNANCiE acquired a cumulative amount exceeding ¥2.8 billion ($20.2 million or ₱1.1 billion). The first close of the funding round raised ¥1.1 billion ($8.2 million) from FFG Venture Business Partners, a venture capital firm that is a wholly-owned subsidiary of Fukuoka Financial Group, Marui Group, and J. Front Retailing.
In a statement, they disclosed that the project is underwritten by four companies: J. Front Retailing, FFG Venture Business Partners (a venture capital arm of the Fukuoka Financial Group), MARUI GROUP CO., LTD., and TIS Inc.
“Financie will use the raised funds to strengthen its business ties with each of the underwriters,” the firm stated.
Financie, Inc. offers comprehensive support for token-based communities and ecosystems. With a track record of over 200 clients, it aims to be Japan’s leading Web3 platform for token ecosystems.
In 2019, the firm secured funding from notable investors like B DASH Ventures, gumi Cryptos, KSK Angel Fund, among others. The platform also had football star Keisuke Honda, founder of KSK Angel Fund, and Aya Miyaguchi from the Ethereum Foundation join as advisors.
FiNANCiE x TIS
Accordingly, TIS and Financie Inc. formed a capital and business alliance, with the aim of financial inclusion and solutions to regional issues.
The two are engaging in a strategic collaboration to enhance their respective businesses by leveraging regional/sports industry token economies and TIS’s social system infrastructure with payment functionalities. This concerted effort aims to foster further expansion and development in line with the following collaborative themes.
Moreover, their joint efforts will focus on integrating payment functions in Community Tokens and non-fungible token (NFT)-related businesses, while also incorporating Financie’s token ecosystem with existing financial services.
They aim to address regional issues, engage with the local community through programs like furusato nōzei (hometown tax donation), electronic resident registration, and digital currency.
Additionally, the collaboration includes IEO support, comprehensive process assistance, token ecosystem implementation, and security audits to ensure a secure token ecosystem operation.
Furthermore, the two companies are working together to analyze and monitor money laundering and other illegal activities for enhanced security measures.
Ex-Director of Animoca Brands appointed as adviser
To prepare for FNCT global expansion, Zaf Chow, ex-Director and current advisor of Animoca Brands, was recently appointed as adviser. She is also the COO of multichain NFT ecosystem Artifact Labs.
In a media release, they disclose that Chow, an expert in web3 and digital entertainment, will help the company expand globally, collaborate with other businesses, and grow its community-led creator economy.
“By bringing in Ms. Zaf, who has extensive experience in the fields of web3 and digital entertainment, as an advisor, Financie aims to promote its global expansion and external collaborations, and extend the “community-led” creator economy created by FiNANCiE and FNCT,” the firm wrote.
This article is published on BitPinas: Japanese SNS firm FiNANCiE Secures $10.8M Fund from TIS Inc.
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.
