News

JIC Venture Growth Investments (VGI) has invested in CraftBank Inc. (CraftBank) through its JIC Venture Growth Fund 2.

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CraftBank, under the mission of “Make World-class Construction Craftsmen and Construction Companies More Profitable”, has been providing customizable business management BPaaS product and digitalization tool for construction companies. The construction industry is the second largest market size in Japan after the automotive industry, with small, medium and mid-tier / regional general contractor accounting for approximately 90%. While the demand for construction, including infrastructure maintenance and updates, is expected to remain robust, the shortage of workers is anticipated to become more serious, making the improvement of productivity increasingly important. Under that circumstance, CraftBank launched a customizable business management BPaaS product “CraftBank office” in 2021. CraftBank expands its product nation-widely and more than 14,000 craftspeople use its product daily. Based on daily reports and accumulating action data that was previously managed analogically, and by visualizing operations and standardizing processes, CraftBank contributes to improve the efficiency of construction companies.

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Through this investment in CraftBank and CraftBank’s business growth, digitalization of Japan’s construction industry and improvement the efficiency of construction companies are expected to promote. CraftBank activities are also expected to enhance sustainability of construction industry and the revitalization of the local economy.

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With this funding, CraftBank will strengthen regional support platform for regional construction companies on a national scale. In addition, CraftBank will deepen collaboration with regional banks and credit unions and accelerate investing in product development that leads to problem-solving for construction companies. VGI’s investment will support CraftBank’s rapid growth and address construction industry’s digitalization challenges.

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^{The information contained in this notice is tentative and subject to change without notice.}