pafin Inc. also announces the completion of its Series B Funding Round with total funds raised reaching over 1.3 billion Yen
pafin Inc. (Co-chairman: Amin Azmoudeh and Gaku Saito, hereinafter “pafin”), the operator of the automatic crypto profit and loss calculation service "cryptact," has commenced a capital and business alliance contract with bitFlyer Holdings, Inc. (CEO Yuzo Kano, hereafter "bitFlyer Holdings"), the parent company of “bitFlyer”, leading crypto exchange in Japan. Leveraging the strengths of both companies, we will intensify collaboration for the advancement of the cryptocurrency and Web3 markets.
Additionally, with this funding, the Series B funding round has been completed, bringing the total amount of funds raised to over 1.3 billion yen. We will continue to contribute to solving the challenges and burdens faced by individuals in the expanding peer-to-peer world.
Future Initiatives of bitFlyer Group and pafin
1 Advancing System Integration to Simplify Tax Filing Procedures
We will promote system integration between "bitFlyer" and "cryptact." Through this integration, investors can enjoy a seamless experience from trading to profit and loss calculation in cryptocurrencies. We aim to enhance the convenience of tax filing and increase awareness among cryptocurrency investors. Furthermore, by displaying the average acquisition cost (book value) for tax purposes calculated by cryptact on bitFlyer's platform, investors can trade while considering tax implications, making it a more strategic trading platform. We will also explore initiatives to simplify the tax filing process for investors.
2 Exploring Joint Research and Development of Financial Products
Both companies' representatives possess extensive investment experience and deep financial knowledge in traditional financial institutions. Leveraging these specialized insights, we will explore joint research and development of new financial products based on cryptocurrencies. We will also consider new services that can only be realized by both companies by utilizing bitFlyer Blockchain's proprietary blockchain "Miyabi."
《Comment from Yuzo Kano, CEO of bitFlyer Holdings》
I am delighted to announce the capital and business alliance contract with pafin, the leading provider of automatic crypto profit and loss calculation services. I am grateful for the opportunity to collaborate with Amin and Gaku Saito, the co-CEOs of pafin, with whom I worked in the same workplace before they founded the company. We aim to enhance the trading platform for bitFlyer customers by advancing system integration with various pafin services as a result of this alliance.
Overview of Series B Funding Round and Past Funding Achievements
pafin is engaged in Fintech and Web3 businesses, offering services like the automatic crypto profit and loss calculation service "cryptact" and your Web3 sidekick "defitact." With the new funding from the Series B round, we will strengthen our marketing and hiring initiatives. We also plan to expand our services as a Web3 infrastructure platform by promoting the integration of "cryptact" and “defitact.”
We recently released a " Start of Year Entry" feature. Those who have been calculating their profits and losses by methods other than cryptact can now easily compute them by entering the beginning-of-year balance for their held coins, quantity, and average acquisition price, without uploading any past transaction history. To celebrate the feature release, we are running an "All features unlocked for new users!" campaign from September 29 to October 18, 2023, allowing new users to use all the features of the paid plan for free for a limited time.
Furthermore, with the completion of the Series B funding round, pafin has raised over 1.3 billion yen since its establishment in January 2018.
《Comments from pafin Co-chairman: Amin Azmoudeh and Gaku Saito》
Through our partnership with bitFlyer, we aim to deepen the synergy between bitFlyer and cryptact, fostering a more secure trading environment for all cryptocurrency investors. We extend our gratitude to our partners, investors, and above all, our users for their continued support in our fundraising efforts. We will judiciously utilize these resources to drive innovation in cryptocurrency, blockchain, and Web3, as we strive for sustainable growth.
About bitFlyer Holdings
bitFlyer Group operates as a crypto exchange and blockchain business, with the mission of "Making the World Simpler with Blockchain." They operate crypto exchanges in three regions: Japan, the United States, and the European Union. Utilizing our proprietary enterprise blockchain "Miyabi," we are advancing the practical implementation of blockchain technology. Committed to solving social challenges through technology, bitFlyer Group continues to strive to make lives more convenient and enriching worldwide.
HP: https://bitflyer.com/en-jp
Contact for public relations and media/press coverage-related inquiries
pr@pafin.com