HEARTBEATS secures ¥1.25bn in debt financing for fan-engagement business
Five Japanese banks provide loans and credit lines following the company's earlier Series C equity financing.
Shoko Chukin Bank, Japan Finance Corporation, Mizuho Bank, MUFG Bank and Resona Bank participated in the financing. The facilities include commitment lines and have repayment periods of up to nine years.
The borrowing is unsecured and unguaranteed, with no equity warrants attached. HEARTBEATS says debt will support working capital and financial stability while equity funds are concentrated on product development, recruitment and new businesses.
The debt follows approximately ¥2.3bn in primary equity financing. Together, the two financings total ¥3.55bn. HEARTBEATS develops the ORICAL digital trading-card service, working with sports teams and entertainment properties to build recurring fan engagement.
Use of funds
Working capital
Support fan-engagement business expansion