Seven Bank and TORANOTEC Establish JPY 2 billion Capital Alliance
〜Strategic partnership forged to facilitate further shift from consumption to investment〜
Tokyo, January 31, 2019 – Seven Bank, Ltd. (hereinafter “Seven Bank”) and Japanese fintech wealth creation service provider, TORANOTEC Ltd. (hereinafter “TORANOTEC”) announced that they have entered into a JPY 2 billion capital alliance agreement, with the premise of a strategic partnership for joint business growth.
Seven Bank has been a shareholder from the early days of the establishment of TORANOTEC, and the two firms have collaborated in pursuing innovation, including a project involving the investment of “Real Change” into mutual funds. By forging an even stronger partnership through this round of capital injection, the two firms intend to pursue various business alliances opportunities jointly. They also aim to enhance the TORANOKO wealth management service, which TORANOTEC offers through its asset management subsidiary, by adding features that further strengthen the ties between people’s everyday life and investment.
Announcing this alliance, the representatives of Seven Bank and TORANOTEC commented as follows:
Yasuaki Funatake, President and Representative Director of Seven Bank Ltd. said:
“Agreeing with TORANOTEC’s mission to create a world in which ‘Everyone Can be an Investor,’ we have supported the growth of TORANOTEC and TORANOKO since the early days of TORANOTEC’s establishment. Seven Bank’s business strategy has been to make financial services more accessible by placing ATM machines in convenience stores. With the continued focus on promoting the shift ‘from savings to investment,’ we believe the new investment style TORANOTEC offers, which allows users to invest small change and loyalty points as an extension of their daily shopping has a high affinity with our business direction. We look forward to driving further potential by partnering more broadly with TORANOTEC.”
Justin Balogh, President and Representative Director of TORANOTEC Ltd. said:
“We are delighted to pursue the strategic partnership with Seven Bank as a part of this round of capital alliance. In order to make investment a natural part of people’s everyday life, we believe it is critically important to create a link between asset management services and ‘real’ daily consumption activities, beyond the digital connection of transaction data. From this perspective, collaborating with Seven Bank which provides services in places such as convenience stores that are in easy access to virtually everyone offers us a very important opportunity. We look forward to partnering closely with Seven Bank to make access to investing closer to people’s everyday life. Through providing a mechanism to be able to invest easily, TORANOTEC will continue our focus of nurturing a culture of wealth creation, in which it becomes the norm for everyone to invest for their own future.”
TORANOKO is a unique investing app provided by TORANOTEC Asset Management Co., Ltd., offering a link between the world of daily consumptions and the world of wealth creation. Sourcing the transactions data of daily life and in creating a gateway through which small change and loyalty points can be invested from 5 yen in 1-yen increments, TORANOTEC offers the easiest possible entry point to begin investing, expanding the access point to wealth creation and investing for Japanese consumers. Details of TORANOKO can be found here: (https://toranoko.com) （Japanese only）