Seven Bank has invested $10.6m in the Adways and Freakout Holdings-backed prepaid debit card provider to push its overall funding to almost $42m.
Japan-based online payment service Kanmu raised ¥1.13bn ($10.6m) from financial services firm Seven Bank yesterday to take its total funding to nearly $42m.
Founded in 2011, Kanmu’s core business is concentrated on a prepaid card dubbed Vandle Card which users can top up using a mobile app.
The app has been downloaded 2.5 million times since it was launched in 2016 and payment volumes reached their highest point ever earlier this year during the Covid-19 pandemic, the company said.
Kanmu…
