# Paidy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paidy

- Industry: Financial Services
- Headquarters: Tokyo, Japan
- Website: www.paidy.com
- Total disclosed funding: $226M
- Latest round: Series D (Mar 31, 2021)
- Investors on record: 16

## About

Based in Tokyo, Japan, and founded in 2008 by Russell Cummer, Paidy Inc., formerly known as Exchange Corporation K.K., is a fintech company that launched the online payment service Paidy in July 2014. In March 2021, Paidy Inc. raised JPY 13.2 billion from new investors, Soros Capital Management, Wellington Management, JS Capital Management, and Tybourne Capital Management. In September 2021, PayPal agreed to acquire Paidy for JPY 300 billion. The company's integrations with PayPal and other digital and QR wallets through Paidy Link expand its reach to online and offline merchants.

Paidy Inc. operates a postpaid, deferred payment service, which offers a monthly consolidated payment account to consumers throughout Japan. Its payment services allow Japanese shoppers to make purchases online, and then pay for them each month in a consolidated bill at a convenience store or via bank transfer. The company uses proprietary models and machine learning to underwrite transactions in seconds and guarantees payments to merchants. With Paidy, payment can be completed by registered email addresses or phone numbers, which provides convenience to users who do not have credit cards. 

Paidy Inc. generates revenue by allowing cardless e-commerce payments and assisting with peer-to-peer lending, allowing companies to enhance conversion and profits.

Paidy Inc. will continue to operate its company, preserve its identity, and offer a wide range of consumer wallets and marketplaces following the acquisition by Pay Pal in September 2021.

## Funding rounds

- Series D, Mar 31, 2021, $120M — Wellington Management, Tybourne Capital Management, Soros Capital Management LLC, One Madison Group
- Series C, Oct 31, 2019, $83M — Eight Roads Ventures, Soros Fund Management, PayPal Ventures, Tybourne Capital Management, One Madison Group
- Series B, Jul 28, 2016, $15M — SBI Holdings, Itochu, Eight Roads Ventures, SIG Asia Investment, Arbor Ventures
- Series A, May 14, 2015, $5M — SIG Asia Investment, MS Capital, Arbor Ventures
- Series A, Jul 29, 2014, $3.3M — 500 Global, CyberAgent Capital, Recruit Strategic Partners, Cherubic Ventures, Arbor Ventures

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Series A
- CyberAgent Capital (https://capitalatlas.ai/funds/cyberagent-capital) — Series A
- Recruit Strategic Partners (https://capitalatlas.ai/funds/recruit-strategic-partners) — Series A
- Cherubic Ventures (https://capitalatlas.ai/funds/cherubic-ventures) — Series A
- Arbor Ventures (https://capitalatlas.ai/funds/arbor-ventures) — Series A, Series B
- SIG Asia Investment (https://capitalatlas.ai/funds/sig-asia-investment) — Series A, Series B
- MS Capital (https://capitalatlas.ai/funds/ms-capital) — Series A
- SBI Holdings — Series B
- Itochu — Series B
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series B, Series C
- Soros Fund Management — Series C
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series C
- Tybourne Capital Management (https://capitalatlas.ai/funds/tybourne-capital-management) — Series C, Series D
- One Madison Group (https://capitalatlas.ai/funds/one-madison-group) — Series C, Series D
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series D
- Soros Capital Management LLC — Series D