Predict your next investment

Kiraboshi Bank company logo
Bank
FINANCIAL | Retail Banking
kiraboshibank.co.jp

See what CB Insights has to offer

Investments

8

Portfolio Exits

1

About Kiraboshi Bank

Kiraboshi Bank was formed by the merger of three Tokyo Kiraboshi Financial Group subsidiary banks: Tokyo Tomin Bank, Yachiyo Bank, and ShinGinko Tokyo.

Kiraboshi Bank Headquarter Location

3-10-43 Minami-Aoyama, Minato-ku

Tokyo, 107-0062,

Japan

+81 03-3352-2271

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Kiraboshi Bank Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Kiraboshi Bank Rank

Latest Kiraboshi Bank News

nCino Reports Third Quarter Fiscal Year 2022 Financial Results

Dec 1, 2021

• Total Revenues of $70.0M, up 29% year-over-year • Subscription Revenues of $57.1M, up 32% year-over-year • Signed Definitive Agreement to Acquire SimpleNexus after Quarter Close WILMINGTON, N.C., Dec. 01, 2021 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced financial results for its third quarter of fiscal year 2022 ended October 31, 2021. “The third quarter was another strong quarter for nCino as we added new logos across the U.S. and multiple international markets, including our first customer in Japan, and also signed expanded contracts with existing nCino customers,” said Pierre Naudé, nCino’s Chief Executive Officer. “I’m extremely proud of our team’s continued execution as we hit our first quarter with $70 million in total revenues.” Naudé continued, “The results from the quarter coupled with our recent announcement to acquire SimpleNexus and their leading, mobile-first, cloud-native, homeownership platform, position us extremely well to continue driving the digital transformation of the global financial services industry while generating sustainable, long-term growth.” Financial Highlights Revenues: Total revenues for the third quarter were $70.0 million, a 29% increase from $54.2 million in the third quarter of fiscal 2021. Subscription revenues for the third quarter were $57.1 million, up from $43.3 million one year ago, an increase of 32%. Loss from Operations: GAAP loss from operations in the third quarter was ($12.7) million compared to ($8.8) million in the same quarter of fiscal 2021. Non-GAAP operating loss in the third quarter was ($3.2) million compared to ($2.7) million in the third quarter of fiscal 2021. Net Loss Attributable to nCino: GAAP net loss attributable to nCino in the third quarter was ($13.6) million compared to ($9.1) million in the third quarter of fiscal 2021. Non-GAAP net loss attributable to nCino in the third quarter was ($4.1) million compared to ($3.0) million in the third quarter of fiscal 2021. Net Loss Attributable to nCino per Share: GAAP net loss attributable to nCino in the third quarter was ($0.14) per share compared to ($0.10) per share in the third quarter of fiscal 2021. Non-GAAP net loss attributable to nCino in the third quarter was ($0.04) per share compared to ($0.03) per share in the third quarter of fiscal 2021. Remaining Performance Obligation: Total Remaining Performance Obligation as of October 31, 2021 was $718 million, an increase of 58% compared to the third quarter of fiscal 2021. Cash: Cash and cash equivalents were $381 million as of October 31, 2021. Recent Business Highlights Signed Kiraboshi Bank, the Company’s first customer in Japan. With assets of more than $53 billion USD, Tokyo-based Kiraboshi will use the nCino platform for its Business Financing division. Expanded the relationship with a top 50 U.S. bank whose initial use case was PPP. With assets greater than $50 billion, this bank will now use nCino across its end-to-end commercial and small business lending. Signed a new enterprise bank in New Zealand, a new bank in the UK and numerous new community and regional banks across the U.S. Took a record number of customers live across geographies, solutions and asset classes, including Truist Bank, the 6th largest bank in the U.S., with more than 2,500 legacy BB&T employees now using the nCino Bank Operating System®. Named a Best-In-Class vendor by Aite Group for the Company’s Commercial Banking Solution, becoming the only technology vendor to ever achieve this recognition three consecutive times. Signed a definitive agreement on November 16, 2021 to acquire SimpleNexus in a stock and cash transaction valued at approximately $1.2 billion. Financial Outlook Total revenues between $68.5 million and $69.5 million Subscription revenues between $57 million and $58 million Non-GAAP operating loss between ($8) million and ($9) million Non-GAAP net loss attribute to nCino per share of ($0.09) to ($0.10) nCino is providing guidance for its fiscal year 2022 ending January 31, 2022 as follows: Total revenues between $267 million and $268 million Subscription revenues between $219 and $220 million Non-GAAP operating loss between ($18) million and ($19) million Non-GAAP net loss attributable to nCino per share of ($0.20) to ($0.21) The foregoing guidance does not include the acquisition of SimpleNexus which is expected to close by the end of nCino’s fourth fiscal quarter, subject to receipt of regulatory approvals and other customary closing conditions. Conference Call nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook with the investment community. The conference call will be available via live webcast and replay at the Investor Relations section of nCino’s website: https://investor.ncino.com/news-events/eventsand-presentations . About nCino nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino's single digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com . Forward-Looking Statements: This press release contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino’s future performance, outlook, guidance, and the timing of its acquisition of SimpleNexus, the assumptions underlying those statements, the benefits from the use of nCino’s solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) the impact   of the COVID-19 pandemic, including the impact to the financial services industry, the impact on general economic conditions and the impact of government responses, restrictions, and actions; (ii) risks associated with the proposed transaction between nCino and SimpleNexus, (iii) breaches in our security measures or unauthorized access to our customers’ or their clients' data; (iv) the accuracy of management’s assumptions and estimates; (v) our ability to attract new customers and succeed in having current customers expand their use of our solution; (vi) competitive factors, including pricing pressures, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (vii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (viii) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (ix) our ability to manage our growth effectively including expanding outside of the United States; (x) adverse changes in our relationship with Salesforce; (xi) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiii) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xiv) our ability to maintain our corporate culture and attract and retain highly skilled employees; (xv) adverse changes in the financial services industry, including as a result of customer consolidation; (xvi) adverse changes in economic, regulatory, or market conditions; and (xvii) the outcome and impact of legal proceedings and related fees and expenses. Additional risks and uncertainties that could affect nCino’s business and financial results are included in our reports filed with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com  or the SEC's web site at www.sec.gov ). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time. nCino, Inc. Non-GAAP Financial Measures In nCino’s public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures. Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino’s management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies. Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with acquisitions of certain businesses and technologies. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino’s management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Acquisition-Related Expenses. nCino excludes expenses related to acquisitions as they limit comparability of operating results with prior periods. We believe these costs are non-recurring in nature and outside the ordinary course of business. Fees and Expenses Related to the Antitrust Matters. nCino excludes fees and expenses related to the government antitrust investigation and related civil action disclosed in our SEC filings as we do not believe these matters relate to the operating business and their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results. There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino’s management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below. nCino, Inc. (In thousands, except share and per share data) (Unaudited)

Kiraboshi Bank Investments

8 Investments

Kiraboshi Bank has made 8 investments. Their latest investment was in div as part of their Debt - II on May 5, 2020.

CBI Logo

Kiraboshi Bank Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/29/2020

Debt - II

div

$16.84M

No

5

3/3/2020

Debt

Subscribe to see more

$99M

Subscribe to see more

10

10/10/2019

Loan

Subscribe to see more

$99M

Subscribe to see more

10

5/20/2019

Debt

Subscribe to see more

$99M

Subscribe to see more

10

3/28/2019

Seed

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/29/2020

3/3/2020

10/10/2019

5/20/2019

3/28/2019

Round

Debt - II

Debt

Loan

Debt

Seed

Company

div

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$16.84M

$99M

$99M

$99M

$99M

New?

No

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

5

10

10

10

10

Kiraboshi Bank Portfolio Exits

1 Portfolio Exit

Kiraboshi Bank has 1 portfolio exit. Their latest portfolio exit was Sun Asterisk on July 31, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/31/2020

IPO

$991

1

Date

7/31/2020

Exit

IPO

Companies

Valuation

$991

Acquirer

Sources

1

Kiraboshi Bank Acquisitions

2 Acquisitions

Kiraboshi Bank acquired 2 companies. Their latest acquisition was Tokyo Tomin Bank on May 16, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/16/2018

Merger

1

5/16/2018

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/16/2018

5/16/2018

Investment Stage

Companies

Subscribe to see more

Valuation

Total Funding

$99M

Note

Merger

Subscribe to see more

Sources

1

10

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.