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Tokyo-based WealthPark locks in $8.5m Series B

WealthPark-Raises-JPY-907-Million-for-Digitalizing-Alternative-Investment-Platform

Digital real estate wealth management platform WealthPark has raised JPY 907 million an equivalent of US$8.5 million in a Series B round of financing from a consortium of investors.

According to a statement released by the company, existing investors like SBI Holding’s asset management affiliate SBI Investment (from its AI and Blockchain Fund), and Mizuho Bank’s venture capital arm Mizuho Capital (from its Growth Fund No. 3) participated in the round. New investors include Aozora Bank and Japan Finance Corporation.

The statement also notes other angel investors and family offices who partook in the round includes Tinshed Asia, Marcus Everard, Board Member at Hong Kong Venture Capital and Private Equity Association, Varun Bery, and Senior Principal and Asia-Pacific CEO of StormHarbour Securities, Water Cheung,

The fresh funds according to the statement will be used to “accelerate the next stage of growth.”

WealthPark’s digital real estate management platform boast of over 70 real estate management companies (including overseas companies) and 10,000 real estate investors on board as of July 2020, while its user base has been steadily increasing from its last financing round.

CEO of WealthPark Ryuta Kawada said “We will continue working with property managers, developers, brokers, and financial institutions to help real estate, an illiquid asset class, be accessible in a low cost, convenient, and enjoyable way,” in the statement.

“Digitalizing illiquid assets such as real estate is an arduous and time-consuming task. However, WealthPark will follow our vision of ‘helping investors achieve maximum returns’ and continuously work hard on expanding our products, services, and customer communication,” he added.

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