Blockchain
WealthPark Raises JPY907 Million for Digitalizing Alternative Investment Platform
WealthPark Co., Ltd. (Headquarter: Shibuya, Tokyo; CEO: Ryuta Kawada; “WealthPark”) announced it has closed JPY907 million (USD 8.5 million(1)) in financing. SBI Investment Co., Ltd. (SBI AI&Blockchain LPS), Mizuho Capital Co., Ltd. (Mizuho Growth Fund No.3 Limited Partnership), Aozora Bank, Ltd., Japan Finance Corporation, and various domestic and foreign investors participated in this round.
A year and a half pursuant to securing Series A financing of JPY540 million (USD 5.0 million(1)), WealthPark continues its engineering-centric hiring strategy, strengthening corporate operation capabilities, and improving business foundations.
WealthPark closed JPY907 million (USD 8.5 million(1)) in Series B to accelerate the next stage of growth after achieving steady growth through concerted efforts within the company. The latest financing round will bring its total raised amount to JPY1,898 million (USD 17.7 million(1)).
Background
WealthPark provides an asset management platform targeting real estate management companies.
As of the end of July 2020, more than 70 companies and over 10,000 real estate investors are using WealthPark’s platform. The Platform is also used by overseas management companies to satisfy cross-border investors’ needs.
Service Enhancement & Future Expansion
As the premier communication tool between real estate management companies and investors, WealthPark is committed to strengthening its features and collaborating with different industry players to enhance its offerings.
Recent partnerships announced include SBI Sumishin Net Bank Ltd., PriceHubble, and DocuSign, which strengthened our offerings to real estate investors and real estate management companies. WealthPark is committed to delivering further value to our clients by partnering with financial institutions to digitize transaction processes and enhance features in real estate management.
The Platform is not limited to the “real estate” vertical but aims to use “technology” to drive “wealth management” for investors together with real estate management companies.
A Word from WealthPark’s CEO
During the Series B financing round, we received overwhelming support from our existing investors as well as new partners such as Aozora Bank, angel investors and family offices with alternative investment backgrounds from the United States, Hong Kong, and Europe. 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.
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.
Comments from the Investors
SBI Investment Co., Ltd.
In Addition to our investment in Series A, we are very happy to be able to lead this additional financing for Series B. WealthPark has a unique worldview of digitizing alternative assets such as real estate, and many investors and real estate management companies are now using apps and systems.Compared with the Series A financing, WealthPark’s business has grown steadily and its business base has continued to accumulate. An excellent management team centered on the CEO Kawada is ready to expand the market rapidly along with the quick digital transformation. Additionally, WealthPark is not only aiming for Japan but also establish the foundation in developing global business. From all the above, we look forward to its future growth of WealthPark and decided to make additional investments.
The SBI Group mainly operates “Financial Services Business,” which provides comprehensive services related to finance, such as SBI SECURITIES Co., Ltd. and SBI Sumishin Net Bank, Ltd. and “Asset Management Business,” which provides services related to investment in domestic and foreign companies and asset management, such as SBI Investment Co., Ltd. We will support WealthPark’s further growth by utilizing and alliances with the SBI Group’s business and resources.
Mizuho Capital CO., Ltd.
Following the Series A round, we have decided to also participate in the current Series B round. WealthPark is providing a service platform fundamentally based on the simple and clear mission of “investing in real estate with technology”. Since the last round of financing, the user base of real estate management companies and real estate investors has been steadily increasing. Through the proceeds from this round, WealthPark’s strategy is to strengthen the foundations of the platform by realizing the solution business and features to platform users, which were still in the planning stage in the previous round. We decided to make an additional investment based on the performance results, evaluation of the business strategy and forecasts. Mizuho Capital will continue to support WealthPark in achieving its vision of becoming the “world’s number one alternative investment platform”.
Aozora Bank, Ltd.
As a professional financial institution, Aozora Bank ‘s mission is to “create new financial added value and contribute to economic and social growth”. By accelerating innovation in various business fields, Aozora strives to become the “New Japanese Partner Bank”, by leveraging a high degree of expertise, mobility, and flexibility. WealthPark is an IT start-up that leverages technology to service the real estate market. We decided to participate in the round from the expectation of partnership with Aozora Bank and the significant improvements in the real estate industry. Together with the entire Aozora Bank group, we will continue to support WealthPark’s growth towards the future.
List of Investors (no particular order)
- SBI Investment Co., Ltd. (SBI AI&Blockchain LPS)
- Mizuho Capital Co., Ltd. (Mizuho Growth Fund No.3 Limited Partnership)
- Aozora Bank, Ltd.
- Japan Finance Corporation
- Marcus Everard: Investment Advisor, Tinshed Asia
- Varun Bery: Board member, Hong Kong Venture Capital and Private Equity Association
- Water Cheung: Senior Principal & Asia-Pacific CEO, StormHarbour Securities LLP
- Other angel investors and family offices from both Japan and abroad
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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