MUFG joins $7m funding round of Japanese stock trading app

A view of Shibuya Crossing in Tokyo, one of the busiest crosswalks in the world / Photo credit: Sean Pavone / Shutterstock

Tokyo-based Bloomo Investment has raised 800 million yen (US$7 million) in seed funding from investors including SMBC Venture Capital, Mitsubishi UFJ Innovation Partners, and Mizuho Capital.

Funding details

• Funding amount: $7,000,000
• Other investors: SMBC Venture Capital, Spiral Capital/Spiral Innovation Partners, Global Brain Corporation, Scrum Ventures, Insignia Ventures Partners
• Stage: Seed
• Source

Bloomo wants to enable users to trade US stocks and exchange-traded funds (ETF) regularly. Its goal is to make investments accessible to everyone, targeting the growing interest among young Japanese people in investing in overseas stocks.

In the app, users can create their own portfolio by selecting stocks and ETFs, setting their investment allocation, and referring to or copying other users’ or famous investors’ portfolios.

Bloomo has applied for the registration for securities companies and aims to launch the product by summer 2023. The firm has also opened a waitlist for users to register for the pre-launch.

More details