{"id":5216,"date":"2020-08-05T10:00:18","date_gmt":"2020-08-05T01:00:18","guid":{"rendered":"https:\/\/wealth-park.com\/?post_type=news&p=5216"},"modified":"2020-08-06T09:24:08","modified_gmt":"2020-08-06T00:24:08","slug":"2020080501_financing","status":"publish","type":"news","link":"https:\/\/wealth-park.com\/en\/news\/2020080501_financing\/","title":{"rendered":"WEALTHPARK RAISES JPY 907 MILLION FOR DIGITALIZING ALTERNATIVE INVESTMENT PLATFORM"},"content":{"rendered":"

WealthPark Co., Ltd. (Headquarter: Shibuya, Tokyo; CEO: Ryuta Kawada; \u201cWealthPark\u201d) announced it has closed JPY 907 million (USD 8.5 million(1)) in financing. SBI Investment Co., Ltd. (SBI AI&Blockchain LPS), Mizuho Capital Co., Ltd. (Mizuho Growth Fund No.3 Limited Partnership), Aozora Bank, Ltd., Japan Finance Corporation, and various domestic and foreign investors participated in this round.
\n\"\"
\nA year and a half pursuant to securing Series A financing of JPY 540 million (USD 5.0 million(1)), WealthPark continues its engineering-centric hiring strategy, strengthening corporate operation capabilities, and improving business foundations.
\nWealthPark closed JPY 907 million (USD 8.5 million(1)) in Series B to accelerate the next stage of growth after achieving steady growth through concerted efforts within the company. The latest financing round will bring its total raised amount to JPY 1,898 million (USD 17.7 million(1)).<\/p>\n

Background<\/u><\/div>\n

WealthPark provides an asset management platform targeting real estate management companies.
\nAs of the end of July 2020, more than 70 companies and over 13,000 real estate investors are using WealthPark\u2019s platform. The Platform is also used by overseas management companies to satisfy cross-border investors\u2019 needs.<\/p>\n

Service Enhancement & Future Expansion<\/u><\/div>\n

\"\"
\nAs the premier communication tool between real estate management companies and investors, WealthPark is committed to strengthening its features and collaborating with different industry players to enhance its offerings.
\nRecent partnerships announced include SBI Sumishin Net Bank Ltd., PriceHubble, and DocuSign, which strengthened our offerings to real estate investors and real estate management companies. WealthPark is committed to delivering further value to our clients by partnering with financial institutions to digitize transaction processes and enhance features in real estate management.
\nThe Platform is not limited to the \u201creal estate\u201d vertical but aims to use \u201ctechnology\u201d to drive \u201cwealth management\u201d for investors together with real estate management companies.
\n\"\"<\/p>\n

A Word from WealthPark\u2019s CEO<\/u><\/div>\n

During the Series B financing round, we received overwhelming support from our existing investors as well as new partners such as Aozora Bank, angel investors and family offices with alternative investment backgrounds from the United States, Hong Kong, and Europe. We will continue working with property managers, developers, brokers, and financial institutions to help real estate, an illiquid asset class, be accessible in a low cost, convenient, and enjoyable way.
\nDigitalizing illiquid assets such as real estate is an arduous and time-consuming task. However, WealthPark will follow our vision of \u201chelping investors achieve maximum returns\u201d and continuously work hard on expanding our products, services, and customer communication.<\/p>\n

Comments from the Investors<\/u><\/div>\n

\u25cf\tSBI Investment Co., Ltd.
\nIn Addition to our investment in Series A, we are very happy to be able to lead this additional financing for Series B. WealthPark has a unique worldview of digitizing alternative assets such as real estate, and many investors and real estate management companies are now using apps and systems.Compared with the Series A financing, WealthPark\u2019s business has grown steadily and its business base has continued to accumulate. An excellent management team centered on the CEO Kawada is ready to expand the market rapidly along with the quick digital transformation. Additionally, WealthPark is not only aiming for Japan but also establish the foundation in developing global business. From all the above, we look forward to its future growth of WealthPark and decided to make additional investments.
\nThe SBI Group mainly operates “Financial Services Business,” which provides comprehensive services related to finance, such as SBI SECURITIES Co., Ltd. and SBI Sumishin Net Bank, Ltd. and “Asset Management Business,” which provides services related to investment in domestic and foreign companies and asset management, such as SBI Investment Co., Ltd. We will support WealthPark\u2019s further growth by utilizing and alliances with the SBI Group\u2019s business and resources.<\/p>\n

\u25cf\tMizuho Capital Co., Ltd.
\nFollowing the Series A round, we have decided to also participate in the current Series B round. WealthPark is providing a service platform fundamentally based on the simple and clear mission of \u201cinvesting in real estate with technology\u201d. Since the last round of financing, the user base of real estate management companies and real estate investors has been steadily increasing. Through the proceeds from this round, WealthPark\u2019s strategy is to strengthen the foundations of the platform by realizing the solution business and features to platform users, which were still in the planning stage in the previous round. We decided to make an additional investment based on the performance results, evaluation of the business strategy and forecasts. Mizuho Capital will continue to support WealthPark in achieving its vision of becoming the \u201cworld\u2019s number one alternative investment platform\u201d.<\/p>\n

\u25cf\tAozora Bank, Ltd.
\nAs a professional financial institution, Aozora Bank \u2019s mission is to \u201ccontribute to the development of society through the creation of new value-added financial services\u201d. By accelerating innovation in various business fields, Aozora strives to become the \u201cdistinctive Partner Bank within Japan\u201d, by leveraging a high degree of expertise, mobility, and flexibility. WealthPark is an IT start-up that leverages technology to service the real estate market. We decided to participate in the round from the expectation of partnership with Aozora Bank and the significant improvements in the real estate industry. Together with the entire Aozora Bank group, we will continue to support WealthPark\u2019s growth towards the future.<\/p>\n

List of Investors (no particular order)<\/u><\/div>\n

\u25cf\tSBI Investment (SBI AI&Blockchain LPS)
\n\u25cf\tMizuho Capital Co., Ltd. (Mizuho Growth Fund No.3 Limited Partnership)
\n\u25cf\tAozora Bank, Ltd.
\n\u25cf\tJapan Finance Corporation
\n\u25cf\tMarcus Everard: Investment Advisor, Tinshed Asia Limited
\n\u25cf\tVarun Bery: Board member, Hong Kong Venture Capital and Private Equity Association
\n\u25cf\tWater Cheung: Senior Principal & Asia-Pacific CEO, StormHarbour Securities LLP
\n\u25cf\tOther angel investors and family offices from both Japan and abroad<\/p>\n

About WealthPark<\/u><\/div>\n

WealthPark provides management support tools that promote business efficiency to real estate management companies. Since the beginning of the service launch, it has been used by many real estate management companies both domestically and abroad. In addition, the WealthPark Mobile App, a communication tool between real estate management company and its customers (real estate investors), is currently available in four languages (Japanese, English, Traditional Chinese, and Simplified Chinese) and used in six regions.
\nAmong the 91 employees, approximately half are foreign nationals and come from 13 different countries. In addition to being from the real estate industry, the team also includes members from well-known manufacturers, consulting firms, investment banks, funds, E-commerce, and other industries creating a diverse team.<\/p>\n

Head Office\uff1a3F Mitomi New Building 1-20-18, Ebisu, Shibuya-ku, Tokyo 150-0013, Japan
\nTotal Capital\uff1aJPY 1,898 Million
\nCEO\uff1aRyuta Kawada
\nEmployees\uff1a91 (as of July 1st, 2020)
\nLocations\uff1aJapan, Shanghai, Hong Kong, Taipei, New York
\nService Areas\uff1aJapan, China, Taiwan, Hong Kong, the United Kingdom, the United States
\nWebsite\uff1ahttps:\/\/wealth-park.com\/en\/<\/a><\/p>\n

\u203bNote: PR announcement about past collaborations and services<\/u>
\nJanuary 20, 2020 \u2013 WealthPark and PriceHubble AG, a Real Estate AI Company based in Europe starts Business Cooperation
\nApril 6, 2020 – SBI Sumishin Net Bank, Ltd and Wealth Park Co., Ltd. to Begin Collaboration to Provide New Service to Real Estate Owners and Management Companies
\nJuly 17, 2020 – WealthPark Announce New Offering to Help Assess Real Estate Value using Artificial Intelligence powered by PriceHubble.
\nJuly 27, 2020 \u2013 WealthPark and DocuSign Partner to Digitalize Real Estate Contacts<\/p>\n

<\/u><\/div>\n

Please contact WealthPark\u2019s PR department.
\nEmail: pr@wealth-park.com<\/a><\/p>\n

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