Japan-based tourism startup WAmazing Inc. raises JPY 240 million in funding

A startup firm called TOKYO-WAmazing Inc., also known as “WAmazing” (CEO: Fumiko Kato, Head Office: Tokyo), has revealed that it has funded a total of JPY 240 million through a private offering of additional shares to several key investors and local banks. With the Series C fundraising, WAmazing has raised a total of JPY 610 million, increasing its overall funding total since its founding in July 2016 to JPY 3.14 billion.

The inbound market has been rapidly rebounding since the start of visa exemptions and individual travel to Japan on October 11, 2022. The number of foreign visitors to Japan reached 1.47 million in February 2023 (56.6% of the amount in the same month in 2019). Due to the market rebound, our owned media (multilingual travel guides for visitors to Japan) had 2.2 times more OTA transaction volume (GMV) in January 2023 than in January 2020, 3.5 times more monthly users (UUs), and more than 400,000 registered members by the end of the month.

 The number of orders in FY 2022 saw an  increase 2.3 times over the previous year, and the cumulative sales over the past three fiscal years reached roughly JPY 1 billion. This is in addition to the re-expansion of the OTA business launched at WAmazing’s establishment and the Regional Tourism DX business, launched in April 2020 in response to the pandemic as our second business line. Also, in response to the full-scale recovery of foreign visitors to Japan, our third business line, Inbound Marketing Consultancy, was introduced in November 2022. As a result, it is now crucial to find human resources and acquire funding for expansion.

The number of orders increased 2.3 times in FY 2022 compared to the prior year, and total sales over the preceding three fiscal years amounted to over JPY 1 billion. This is in addition to the Regional Tourism DX business, which was introduced in April 2020 as our second business line in reaction to the pandemic, and the re-expansion of the OTA business established at WAmazing’s founding. Also, in November 2022, our third business line, Inbound Marketing Consulting, was launched in response to the full recovery of international tourists to Japan. Finding personnel and obtaining finance for expansion are thus now essential.

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