Paidy raises $120 million in Series D funding

Paidy, Japan’s leading Buy Now Pay Later (“BNPL”) provider, completed a Series D round of funding raising a total of US $120 million from JS Capital Management LLC, Soros Capital Management LLC, Tybourne Capital Management Ltd, and Wellington Management.

With the corporate mission to “take the hassle out of your payment and purchase experiences,” Paidy aims to create an environment where everyone can shop wisely and joyfully. With Paidy, you can settle easily with just your mobile phone number and email address, and then pay the accumulated charges the following month. Paidy has been used by a large number of customers since the launch of the service at the end of October 2014. As of March 2021, the number of websites accepting Paidy exceeds 700,000 in Japan and the number of consumer accounts exceeds 5 million*1. Aiming to make the service more convenient, Paidy also recently began offering “3-Pay”, a service that allows customers to split charges into three equal, interest-free, monthly installments,*2  which has been very well received.

The funds raised will be used to expand transactions with large merchants, develop new services, and strengthen its balance sheet in response to the rapid expansion of "3-Pay".