Page 64 - Forbes - Asia (March 2020)
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THE ACE W ith 900,000 merchants already
using his e-commerce site to sell
products to more than 6 million
OF BASE customers, Base founder Yuta
Tsuruoka managed to raise $26
million last October in an IPO.
Base’s listing on the Tokyo Stock Exchange
YUTA TSURUOKA is finding new growth for raised ¥2.8 billion ($26 million) for a roughly 9%
his startup Base by lending to his customers. stake. Part of the draw for investors was the com-
pany’s expansion from e-commerce into fintech.
By James Simms The latest move came in December 2018 when DEBY SUCHA FOR FORBES ASIA
Tsuruoka started Yell Bank to offer Base mer-
chants accounts receivable financing (Yell Bank is
operated by Base subsidiary Base Bank). Yell uses
F ORBES A SIA MAR CH 2020
