The Hakuhodo DY Holdings, Infcurion, JCB and Ricoh Leasing-backed e-commerce payment technology provider’s latest round valued it at $957m and included a $188 secondary transaction.

Net Protections, a Japan-based payment automation service backed by corporate investors Hakuhodo DY Holdings, Infcurion, JCB and Ricoh Leasing, secured ¥1bn ($110m) on Friday at a $957m valuation.

Alternative investment firm York Capital Management’s investment advisory spinoff, My.Alpha Management, took part in the round, which also featured a secondary transaction involving the same investor paying $188m to acquire the shares held by private equity firm Advantage Partners.

Founded in 2000, Net Protections has built e-commerce payment products that help users…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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