Paidy is a Japanese startup offering instant credits for online shopping. Now, the Jonathan Soros single family office, which is featured in our , invested in the startup’s $143M Series C funding round.Paidy enables shopping online without a credit cardPaying with a credit card when shopping online is still relatively rare in Japan. Although that’s convenient for users, it is an issue for online retailers, since it puts a cash drain on the business. Paidy helps at this point: customers can buy articles online and pay with their Paidy account and without a credit card. In the end of the month, open invoices for Paidy payments are settled by the customers. At the point of the last fundraise in July 2018, there were 1.4M active Paidy accounts. The company wants to increase this number to 11M by 2020. Paidy was founded by Russel Cummer, a former Goldman Sachs and Merill Lynch credit trader with a degree in financial mathematics from Stanford.$143M Series C by notable investors and the Jonathan Soros single family officeInvestors in the extended Series C financing round of Paidy are a mix of existing and new investors: PayPal Ventures, Soros Capital Management LLC, JS Capital Management LLC and Tybourne Capital Management. Goldman Sachs and Mizuho Bank are providing further debt financing. It’s interesting that two Soros family offices participated in the funding round: Soros Capital Management LLC is a firm of Robert Soros, JS Capital Management LLC of Jonathan Soros. Both are sons of hedge fund billionaire George Soros. The JS Capital Management LLC was launched in 2012 and is an active investor in venture capital and capital markets.Sources, 4.11.2019, 4.11.2019 via UnsplashYou might like these articlesRelevant single family office lists Rated 4.00 out of 5 €399,99 including VAT €249,99 including VAT Rated 5.00 out of 5 €799,99 including VAT Rated 4.67 out of 5 €1.499,99 including VAT
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