Papelook becomes latest Japanese photo app to get funding

The photo app craze shows so no signs of slowing down. There are definitely some signs there supply should be outweighing demand by now but the funding money continues to roll in.

In July, Instagram challenger Snapeee grabbed a sweet US$4 million. Now, scrapbook app Papelook has earned itself a JPY 120 million (US$1.12 million) funding round (h/t to The Bridge).

Jafco was the lead investor in Papelook’s first significant fundraising round. Prior to this, the company had only JPY 36 million (US$336,000) in capital. Some of that amount was bootstrapped and the rest came from Mitsubishi UFJ Capital, DG Incubation, and Open Network Lab.

Papelook tries to distinguish itself with its scrapbook features. Users can make a collage of their photos and videos inside the app, a feature that has led to the global downloads. According to The Bridge, not only is the service spreading around Southeast Asia, the United States is its second largest market with over one million downloads.

The startup has a stronger pedigree than the average photo app since it is a graduate of Open Network Lab’s acceleration program. The company, which was established in 2011, passed 13 million downloads earlier this year. But even despite its solid showing so far, it is hard to see it as more than just another photo app.

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