maneo Inc., the pioneer in social lending in Japan announced today the closing of a 187 million yen round of venture financing. The round was led by Yasuda Enterprise Development, based in Tokyo, Japan, with participation from DIT Partners, iSigma Capital, Neostella Capital, and GMO VenturePartners.
“We are very pleased to have secured 187 million yen during this last round of financing,” remarked Tadatoshi Senoo, CEO and co-founder of maneo. “It is reassuring to receive such strong financial backing and support from established organizations despite the ongoing global financial crisis.”
“We are pleased to continue to assist in the financing of this exciting and new organization and we believe there is an enormous upside for members participating in maneo’s social lending service,” said Akihiro Yoshijima, general manager of Yasuda Enterprise Development. “We are very optimistic about the future of maneo.”
maneo Inc. was incorporated in April 2007 and operates Japan’s first online marketplace for people to borrow and lend money through an auction system. maneo is about helping people lend money to and borrow money from each other, sidestepping the expense and inconvenience of traditional banks and consumer finance companies. People who want to borrow money register with maneo and create loan listings. Potential lenders register with maneo and bid on the loan listings they are interested in. maneo aggregates the bids with the lowest rates to fund the relevent loans and handles all of the administrative matters relating to the loans. For more information about maneo, visit http://www.maneo.jp.