Habitto, a Tokyo-based startup aiming to challenge Japan’s major banks, has launched its first savings account, offering an attractive 0.3% interest on the first one million yen deposited.
The company has registered as a financial services intermediary for both banking and securities operations and has assembled a team of 17 employees, including three financial advisors.
Central to its offerings is the Habitto Account, a mobile-only savings account that provides a Visa Debit card for convenient access to funds. The 0.3% return on deposits significantly outshines the average 0.001% rate offered by traditional banks.
Additionally, users have access to complimentary financial advisory services for tailored money management plans, available through in-app chat and video call features.
Habitto raised US$3.9 million in a pre-A financing round in February 2023, co-led by Saison Capital and Cherubic Ventures. The company previously raised US$3.4 million in a seed round led by Saison Capital in September 2021, bringing its total funding to US$7.3 million.
Other notable investors include Anthemis Group, Apis Partners, DG Daiwa Ventures, GMO Ventures, Kyokuto Securities, Epic Angels, and various angel investors from the finance sector worldwide.