Tokyo University of Science helped extend Gojo & Company's series D round to $68.6m, lifting the microfinancing provider's overall funding to around $142m.

Gojo & Company, a Japan-based financial inclusion service, has closed a ¥7.07bn ($68.6m) series D round featuring Tokyo University of Science’s Innovation Capital unit. The round was completed with a $26m tranche featuring, apart from Tokyo University of Science, insurer Dai-ichi Life Insurance, retailer Marui Group as well as Ricoh Leasing and GMO Venture Partners, respective subsidiaries of products supplier Ricoh and internet company GMO. The final close also attracted a range of new, undisclosed institutional and private investors. An initial $22m series D tranche took place in April 2020 with investors including financial services firms Seven Bank, SBI Group and unnamed private and existing investors. Credit Saison supplied debt financing at the time. Founded in 2014, Gojo offers microfinancing products geared to underserved communities in multiple south and southeast Asian countries, in addition to certain African markets. Gojo & Company has now raised a total of $142.3m in funding, having previously closed a $38.8m series C round in October 2019 with a tranche led by Dai-ichi Life. The series C round was also backed by Tokyo University of Science Investment Management Company, as well as Aizawa Investments and SBI Investment, subsidiaries of securities firm Aizawa Securities and SBI Group respectively. Marui Group, Seven Bank, Japan International Cooperation Agency and TransLink Capital Partners, the venture capital vehicle co-founded by insurer Sompo Japan Nipponkoa, filled out the series C round together with Dream Incubator’s Dimension fund, 15th Rock Ventures and private investors. Gojo’s shareholders additionally feature insurer Nippon Life’s Nissay Capital unit, consulting firm Link and Motivation and venture capital firms Nippon Venture Capital and Jafco. – This article was updated on January 8, 2021 with additional details about the final series D tranche.

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