Netstars raised funding to extend its customer base and expand operations globally. Here are the top-line bullets you need to know.
Japanese payment gateway operator Netstars has raised $61M in funding. The round was led by KKR with participation from SIG Asia Investments and LUN Partners Capital.
How’s the company performing?
- Tokyo-based Netstars is a payment aggregator and operator of “StarPay,” which incorporates various payment providers into a single device or software platform for multi-app point-of-sale (POS) processing.
- More than 280,000 merchants in Japan use the company’s StarPay service. It has aggregated 37 providers on its platform, including PayPay, LINE Pay, AliPay, WeChat Pay, and VIA.
- In September 2020, Netstars raised $30M led by LUN Partners Group with participation from Japan Post Capital. This follows an earlier strategic investment from LUN Partners Group in May 2020.
Why does the market matter?
- The fintech market is projected to grow at a CAGR of 22.2% to reach a value of $305B by 2025, according to Market Data Forecast.
- Global fintech adoption stands at 25% and provides enormous opportunity for growth to providers and first-movers.
- The Covid-19 pandemic drove adoption of cashless transactions and increasing demand for digital payment solutions and online payment gateways.