Multi-payment SaaS ELESTYLE raises JPY 1bn Series B from Sumitomo Mitsui Card and SIG

ELESTYLE has completed a third-party allotment capital increase, including additional investments from Sumitomo Mitsui Card and its existing shareholder Susquehanna International Group (SAI Global Japan Fund II, hereinafter referred to as “SIG”), to support the digital transformation (DX) and cashless payment initiatives of businesses.

Background and Purpose of the Fundraising

The progress of cashless payment and the diversification of industries and sales methods for businesses have made DX increasingly important for companies. In this environment, ELESTYLE aims to fully support the DX and cashless payment initiatives of businesses by providing one-stop payment and peripheral services through its multi-mobile payment platform “elepay” and mobile application SaaS “OneQR.”

Through this fundraising, ELESTYLE has welcomed Sumitomo Mitsui Card as a new partner and accepted additional investment from SIG. This will allow ELESTYLE to expand its next-generation payment solutions and DX services while enhancing its ability to address new challenges faced by businesses.

Furthermore, ELESTYLE will use the new funds to actively recruit industry-leading talent in areas such as technology, product development, customer support, and marketing. By welcoming exceptional talent across various fields, ELESTYLE can further enhance the quality of its services, improve the customer experience, and continue its growth.

Past Achievements and Future Prospects

The payment solutions “elepay” and “OneQR” have been adopted by many businesses and have received high acclaim for their achievements. With this fundraising, ELESTYLE will further strengthen product development, improve the customer experience, and expand into markets such as unmanned sales and self-ordering. Additionally, ELESTYLE will establish new partnerships and innovate existing business models to accelerate the provision of solutions that address the diverse challenges faced by businesses.

The Core of Innovation, OneQR: Shaping the Future of Payments

OneQR is an innovative service that enables everything from self-ordering to cashless payments with a single QR code. By simply scanning the QR code with a smartphone camera, users can access over 40 payment services, including PayPay, d-Barai, auPAY, and Rakuten Pay. It has been adopted at over 100,000 locations nationwide, including vending machines, parking lots, movie theaters, and restaurants, both online and offline.

OneQR Implementation Case: Mobile Ordering & Cashless Payments in Student Cafeterias

By introducing “OneQR,” student cafeterias have implemented mobile ordering and cashless payments, reducing service time by 40% and increasing the cashless usage rate to 80%. This transformation has led to reduced waiting times and significantly improved operational efficiency.

Please follow us to read more about Finance & FinTech in Japan, like hundreds of readers do every day. We invite you to also register for our short weekly digest, the “Japan FinTech Observer”, on Medium or on LinkedIn. Our global Finance & FinTech Podcast, “eXponential Finance” is also available through its own LinkedIn newsletter, or via our Podlink.

Should you live in Tokyo, or just pass through, please also join our Tokyo FinTech Meetup. In any case, our YouTube channel and LinkedIn page are there for you as well.