Tokyo-based digital bank Habitto has secured US$11.7 million (JPY1.8 billion) in Series A funding.

The round was led by QED Investors and DG Daiwa Ventures (DGDV), with participation from Scrum Ventures, Anthemis Group, and other existing investors. This marks QED Investors’ first investment in Japan.

Sean Park, Co-founder of Anthemis Group will be joining the board as an observer as part of the round.

Habitto’s mobile app integrates financial tools and free advice, including personalised guidance from digital advisors.

The platform is designed to reduce financial anxiety among young Japanese users, offering tailored financial strategies to help them navigate economic uncertainties and build better money habits.

The company has established partnerships and obtained licenses to support its financial offerings.

Habitto has reported rapid growth, with over 42,000 app installs and more than JPY4.7 billion in deposits.

This latest funding will be used to further expand Habitto’s user base, enhance its digital banking platform, and develop new financial tools and services tailored to the needs of young Japanese consumers.

Habitto previously raised US$3.4 million in a seed round led by Saison Capital in September 2021 and US$3.9 million in a pre-A round co-led by Saison Capital and Cherubic Ventures in February 2023.

With this latest Series A round, Habitto has now raised a total of US$19 million.

Samantha Ghiotti, Co-founder & CEO, said,

“We’re fortunate to have the support of a globally experienced investor like QED, paired with the local expertise of DGDV. It’s certainly a challenging funding environment, but in these two investors, we’ve found partners with deep experience and knowledge in fintech. Habitto saw strong interest in the Japanese market from global investors throughout this round and we’re excited for those making their way into the market for the first time.”

Liam McCance, Co-founder & Chief Creative Officer, said,

“With this financing and backing of these investors, we will continue to tackle financial anxiety by helping Japan’s younger generation develop money strategies.

In just three years since our launch Habitto has been entrusted with more than JPY4.7 billion in deposits from customers looking to build a money strategy and better money habits.”