• 2019.12.09
Japan insurtech startup justInCase raises ¥1 billion in a Series A funding round

Today we officially announce that as leading insurance start-ups in Japan, justInCase, Inc. and justInCaseTechnologies, Inc. (CEO: Kazy Hata, “justInCase”) has raised ¥1 billion (US $9.2m) in a Series A funding round. This round follows on from our Seed funding round in June 2018, and includes participation by our existing Seed investors, as well as the five new investors listed below.

【New investors】

  • DeNA Co., Ltd.
  • Global Brain Corporation
  • ITOCHU Corporation
  • SBI Investment Co., Ltd.
  • Shinsei Corporate Investment Co., Ltd.

【Existing investors】

  • Coral Capital (formerly 500 Startups Japan)
  • GLOBIS CAPITAL PARTNERS & Co.
  • LINE Ventures Corporation

justInCase is a full-stack insurance start-up based in Japan that specializes in the development of innovative insurance products, as well as the provision of insurance API and digital platform solutions. We strive to create value in the customer journey through the use of innovative technologies.

The funds will be used to enhance our organizational structure, strengthen partnerships with insurers and other corporations, fasten the new business development to monetize as well as expanding our team to support R&D and business growth over the coming years.

Comment from justInCase CEO Kazy Hata

“It’s been 3 years since we founded justInCase in 2016.
Since then, we have been growing at a tremendous rate and reaching some major milestones during this short period of time. We’ve been licensed as a small-amount and short-term insurer in Japan. We’ve developed a new and innovative insurance business model. We’ve launched Mobile Phone Insurance with AI-based premiums. We’ve formed a successful engineer team to develop insurance API’s. And recently, we’ve been successfully admitted through the Regulatory Sandbox to introduce P2P insurance in Japan. (There are also further businesses in the works that are yet to be officially announced).
The journey during the past 3 years have felt like a marathon full of fast and tiring sprints when I have least expected it. I have encountered countless hurdles and hardships within and outside of work. I constantly seek to ensure everyone around me is pleased with our business, including shareholders, business partners and my team.
At the same time however, the past 3 years have been the most fulfilling and rewarding period of my life. Since the Seed funding round in 2018, our team has turned from only 4 members, to over 20 members and counting. I am also very honored and proud to see that we have 5 new investors joining us on our journey. It’s humbling to know others believe in justInCase’s vision of providing Universal Assurance.
I am very confident in the company and the team we have built, and I look forward to working with my group of friends well into the foreseeable future.
What do you call this without calling it a dream?
If this isn’t a successful and happy life, then I don’t know what is!”

Comments from new investors

Jun Oi, Executive Officer General Manager
Corporate Planning Division
DeNA Co., Ltd.
“We look forward to justInCase’s technology combined with DeNA’s services and data to take on the challenge of making insurance more enjoyable, promoting healthier lives.”

Keisuke Tachioka, General Partner
Global Brain Corporation
“In Japan, which is known as the big insurance country, I am excited to be able to meet such a charismatic founder. We are investing to show our full support of justInCase, and look forward to witnessing the future of insurance that justInCase creates”

Yasuhi Kawauchi, Insurance Businees General Manager
Finance & Insurance Department
ICT & Financial Business Company
ITOCHU Corporation
“I am confident that combining the offline and online channels of the ITOCHU Group with justInCase’s insurance product development capabilities and technology will deliver a new insurance experience to consumers.”

Yuichi Matsumoto, General Manager
Daito Kato, Manager
Investment Department
SBI Investment Co., Ltd.
“This is a startup that will transform Japan’s Galapagos-thinking insurance industry with its insurance expertise and ability to harness the power of technology. We have invested in an effort to promote innovative and socially significant initiatives together!”

Ippei Matsubara
President & CEO
Shinsei Corporate Investment Co., Ltd.
“Technology has already had an impact on bancassurance in Europe, which is an advanced country in InsurTech. I think we can lead Japan’s bancassurance by fusing the financial services of Shinsei Bank Group and justInCase insurance technology.”

About justInCase, Inc.

As a small-amount and short-term insurer founded in 2016, justInCase aims to create value through innovation to foster Universal Assurance – a state in which society is assured of a better life. By utilizing Machine Learning, Artificial Intelligence and other innovative technologies, justInCase aims to spread insurance products and services around the world that are yet to exist.
(https://justincase.jp/eng)

About justInCaseTechnologies, Inc.

Established in 2019, justInCaseTechnologies provides reliable and seamless insurance API technology and digital platform solutions for justInCase, as well as other insurance and business partners in finance and healthcare fields.
(https://justincase-tech.com/en/)

For any inquiries, contact:
Elaine Tung
pr@justincase.jp
1-6-1 Chiyoda Otemachi, Tokyo

Careers: https://www.wantedly.com/companies/justincase