According to the press release, Netstars will use the funding to advance its efforts to attract more StarPay customers and expand StarPay’s network to include more member stores that accept QR settlements in Japan. The round, which was made through a combination of a capital infusion and the allotment of new shares, includes investors such as KKR, SIG, and LUN Partners.
The company aims to support member stores in attracting new customers and retaining existing ones by enhancing Netstars’ offerings and services, including a new StarPay mini-app development platform. Netstars will also expand its payment aggregation solutions overseas beginning in 2021, in cooperation with overseas financial institutions.
Netstars operates StarPay, Japan’s leading payments aggregation solution which integrates a variety of payment providers into a single device or software platform, allowing for efficient point-of-sale processing for consumers across multiple payment apps. To date, StarPay is used by more than 280,000 merchants across Japan and has aggregated 37 payment providers onto its platform, including PayPay, LINE Pay, AliPay, WeChat Pay, and VIA.