Dorsey’s Block invests in Japanese payments firm Kyash’s $41.2M Series D

Japanese payments firm Kyash announced Thursday that it has raised roughly $41.2 million in Series D funding. Amongst others, it has been revealed that Jack Dorsey’s payments giant Block also participated in the investment round, making it the company’s first investment in an Asian-based firm.

In addition to Block, the company obtained investments from Japan Post Investment Corporation, Block (formerly known as Square), Greyhound Capital, SMBC Nikko Securities, Altos Ventures, Goodwater Capital, StepStone Group, JAFCO Group, Mitsui Sumitomo Insurance Capital, and others.

Launched in 2015, Kyash was founded by Shinichi Takatori from Sumitomo Mitsui Banking Corporation. The company offers online and offline payments, remittances, and ATM withdrawal services via its mobile banking app. Kash previously raised $45 million in a Series A funding held in March 2020.

Block, a fintech startup founded by Jack Dorsey, is making several developments in the blockchain and cryptocurrency area, especially Bitcoin. Its peer-to-peer mobile payment app CashApp allows users to buy and sell bitcoins directly.

The company has been actively promoting the development of the Bitcoin Lightning Network and supporting Bitcoin developers. More recently, Jack Dorsey created a ‘Bitcoin Legal Defense Fund,’ a fund designed to help Bitcoin developers facing legal troubles.

The post Dorsey’s Block invests in Japanese payments firm Kyash’s $41.2M Series D appeared first on Our Bitcoin News.