GMO Internet is the largest registrar in Japan, they made news last November purchasing Z.com for JPY800 million or $6,776,448 USD. The dollar amount is the exchange rate at the time of the transaction. Today it would be $6,506,768.
TechInAsia.com reported today that the company just received a $65 million investment from Mitsui Sumitomo to provide the financial wherewithal to strengthen their payment solution and to help foster the start ups they work with.
From the article:
Japan’s GMO Internet is often in the news as an investor, but today the Japanese internet service and online payment provider was the one receiving funds. The firm announced a JPY 8 billion (US$65 million) investment by multinational banking giant Mitsui Sumitomo to strengthen its GMO Payment Gateway ecommerce payment solution and aid the startups that it serves.
“It’s a big step to move into a megabank’s customer base – it’s huge,” Ryu Muramatsu, a founding partner at GMO Venture Partners, tells Tech in Asia. “We’ll use most of this funding to help startups – our merchants – grow.”
GMO Internet is a behemoth in Japan, offering an array of internet services (domain listing, web hosting, cloud storage, advertising, security, online FX and securities trading) in addition to its popular payment solution. GMO Payment Gateway connects ecommerce businesses – including startups – and credit card companies to merchants.
Read the full article on TechInAsia.com