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About Rakuten Capital
Rakuten Capital is a venture capital firm founded in 2014. It is primarily based out of Setagaya City, Japan. As of Jul 2026, Rakuten Capital is an active investor, having invested in 54 companies, with 4 new investments in the last 12 months. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and Retail. Most recently it participated in the $***** Seed round of VERAMORE Overall, Rakuten Capital portfolio has seen 5 unicorns, 6 IPOs and 17 acquisitions including key companies like Lyft, Glovo and BlueVine. A lot of funds co-invest with Rakuten Capital, with names like B Dash Ventures sharing a substantial percentage of its portfolio. Rakuten Capital has team of 15 people including 6 partners.Key Metrics
Rakuten Capital's List of Top Investments
Rakuten Capital has a portfolio of 54 companies, including 5 unicorns. Their most notable investments are in Azimo and Azimo.Their portfolio spans across United States, Japan, Singapore and 13 more locations. They have invested in Enterprise Applications, Consumer, Retail and 24 other sectors, across stages such as Series A, Series B and 6 more. Here is the list of top investments by Rakuten Capital:1. Lyft
Network facilitating on-demand transportation and ride scheduling services for individuals. It provides options for immediate rides, scheduled pickups, and various vehicle types. The network offers programs for business transportation needs. It also focuses on safety measures and community support initiatives.
Key facts about Lyft
- Founded Year: 2007
- Location: San Francisco (United States)
- Stage: Public
- Total Funding till date: $5.02B
- Employee Count: 3,913 as on Dec 31, 2025
- Investors: HTIF, SeedFord Partners and 163 Others
- Latest Funding Round: Series I, Aug 06, 2018, $*****
- Highlight: Public
2. Glovo
Operator of an online platform for on-demand delivery services. The platform facilitates the ordering and delivery of various items. These items range from food and groceries to pharmaceutical products and other retail goods. The platform connects customers with local businesses and independent couriers.
Key facts about Glovo
- Founded Year: 2015
- Location: Barcelona (Spain)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.16B
- Employee Count: 15,437 as on Jul 31, 2026
- Investors: GR Capital, La Maison Partners and 61 Others
- Latest Funding Round: Series F, Apr 01, 2021, $*****
- Highlight: Acquired
3. BlueVine
Provider of business checking accounts, business loans, and business credit cards. The company offers business checking with interest, accounts payable automation, and international payments. Business loans include lines of credit, term loans, and SBA loan access through lending partners. The business credit card provides cash back on purchases.
Key facts about BlueVine
- Founded Year: 2013
- Location: Redwood City (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $288M
- Employee Count: 624 as on Sep 30, 2026
- Investors: Kreos Capital, Vintage Investment Partners and 28 Others
- Latest Funding Round: Conventional Debt, Sep 09, 2020, $*****
- Highlight: Acquired
4. Upstart
AI-enabled online marketplace offering diversified loans to consumers and businesses. It offers loans such as personal loans, credit card loans, car loans, debt consolidation loans, wedding loans, medical loans, small business loans, and more. It provides personalized loan rates based on personal credit assessments.
Key facts about Upstart
- Founded Year: 2012
- Location: Palo Alto (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $129M
- Employee Count: 1,973 as on Sep 30, 2026
- Investors: HTIF, First Round Capital and 29 Others
- Latest Funding Round: Series D, Apr 08, 2019, $*****
- Highlight: Public
5. ShopBack
Online platform providing cashback rewards, coupons, and promo codes for purchases. It allows users to earn money back on shopping, travel bookings, and game play. Users can withdraw earnings to their accounts. The platform offers notifications for deals and automatic application of coupon codes.
Key facts about ShopBack
- Founded Year: 2014
- Location: Singapore (Singapore)
- Annual Revenue: SGD 100M - 500M as on Mar 31, 2024
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $350M
- Employee Count: 954 as on Sep 30, 2026
- Investors: Temasek, SBVA and 41 Others
- Latest Funding Round: Series F, Dec 08, 2022, $*****
- Highlight: Editors' Pick
Rakuten Capital's Year-on-Year Investment Trends
Rakuten Capital has invested in 54 companies over the last 12 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 2 investments, while as of Jul 2026, it has made 4 investments in this year. Its most recent first time investment was in VERAMORE and most recent follow-on round was in Baaz.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 0 | 4 |
2025 | 1 | 1 | 2 |
2024 | 0 | 0 | 0 |
2023 | 2 | 1 | 3 |
2022 | 1 | 0 | 1 |
2021 | 3 | 0 | 3 |
2020 | 1 | 0 | 1 |
2019 | 4 | 3 | 7 |
2018 | 2 | 3 | 5 |
2017 | 11 | 7 | 18 |
Rakuten Capital's Investments by Stage
Rakuten Capital has made 20 investments in Series A stage with an average round size of $9.28M, 10 investments in Series B stage with an average round size of $32.1M and 9 investments in Series C stage with an average round size of $29.5M.Stage of entry | No. of Investments |
|---|---|
Series A | 20 |
Series B | 10 |
Series C | 9 |
Seed | 7 |
Series D | 4 |
Others | 4 |
Note: We have considered here, only first round of investments
Rakuten Capital's Investments by Sector
Rakuten Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, FinTech, Retail and Travel and Hospitality Tech. Notably, it has invested in 48 Tech companies, 32 Enterprise (B2B) companies, 29 Consumer (B2C) companies and at least 28 companies focusing on Software.Sector | No. of Investments |
|---|---|
Enterprise Applications | 21 |
Consumer | 18 |
FinTech | 12 |
Retail | 7 |
Travel and Hospitality Tech | 7 |
Others | 64 |
Note: We have considered here, only first round of investments
Rakuten Capital's Investments by Geography
Rakuten Capital has made most investments in United States (19), followed by Japan where it has made 11 investments.Country | No. of Investments |
|---|---|
United States | 19 |
Japan | 11 |
Singapore | 5 |
United Kingdom | 3 |
Germany | 2 |
Others | 14 |
Note: We have considered here, only first round of investments
Rakuten Capital's recent investments
Rakuten Capital has made 4 investments in 2026 so far. VERAMORE and Redcliffe are the latest among them.Here are the most recent investments by Rakuten Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 10, 2026 | South Korea | Seed | 7765 | ||
Jun 25, 2026 | Japan | Series C | 6550 | [+1] | |
Feb 12, 2026 | Japan | Series A | 9015 | ||
Jan 15, 2026 | Japan | Series C | 7763 | ||
Jul 30, 2025 | India | Series A | 7401 | [+4] |
Unicorns in Rakuten Capital's Portfolio
Rakuten Capital has 5 unicorns in its portfolio - ShopBack, Airalo, Fever and others. The most recent unicorn in their portfolio is ShopBack. It became a unicorn in 2026, 6 years after Rakuten Capital first invested in it.Here is a list of unicorns in Rakuten Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
79 | Online platform providing cashback rewards, coupons, and promo codes for purchases | 2014 | Singapore | Series F | bfihrzw | ||
75 | Operator of eSIM stores intended to provide connectivity to travellers | 2019 | Delaware | Series C | vfhrvsi | ||
77 | Provider of a digital marketplace for booking live entertainment events | 2014 | New York City | Series F | snslrbg | ||
78 | App-based platform for spare change investment | 2012 | Irvine | Series F | mcgpkyh | ||
71 | Provider of ride-hailing, taxi, and delivery services via a mobile application | 2011 | Madrid | Series E | eavmxcc |
IPOs and Publicly Listed companies in Rakuten Capital's Portfolio
6 of Rakuten Capital's portfolio companies have become public. Base Food got listed on the Tokyo Stock Exchange (TSE), in Nov 2022 at marketcap of $290M and Finatext got listed on the Tokyo Stock Exchange (TSE).Here are Rakuten Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 15, 2022 | May 27, 2019 | Series A | 6488 | |
Dec 22, 2021 | Feb 08, 2017 | Series A | 2279 | |
Dec 16, 2020 | Mar 02, 2017 | Series D | 4836 | |
May 25, 2020 | Apr 09, 2015 | Series A | 8932 | |
Mar 29, 2019 | Mar 11, 2015 | Series E | 3596 |
Acquired companies in Rakuten Capital's Portfolio
17 companies from Rakuten Capital's portfolio have been acquired. The most recent acquisition was BlueVine in Sep 2026 by Valley Bank for $*****.Here are Rakuten Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 28, 2026 | Jan 20, 2016 | Series C | 6840 | |
Aug 27, 2025 | Feb 14, 2014 | Series A | 7162 | |
Apr 10, 2023 | Dec 19, 2016 | Series E | 3080 | |
Sep 29, 2022 | May 08, 2018 | Series C | 7656 | |
Mar 28, 2022 | Apr 15, 2016 | Series C | 1564 |
Team profile of Rakuten Capital
Rakuten Capital has a team of 15 members including 6 Partners and 2 Principals located in Japan and Singapore. Rakuten Capital's team sits on the board of 1 company.Here is a list of top team members in Rakuten Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | |||
Partner | Tokyo | - | ||
Partner | Setagaya City | - | ||
Partner | Singapore | |||
Partner | Tokyo | - | ||
Partner | - | - | ||
Principal | Japan | - | ||
Principal | - | - |
Co-investors of Rakuten Capital
Over the past 12 years, 552 investors have co-invested in Rakuten Capital's portfolio companies. This includes funds and angels.
- Invested before Rakuten Capital: Founders Fund, Third Point and 237 others have invested in rounds before Rakuten Capital. There are 2 companies where Founders Fund has invested before Rakuten Capital and 2 companies where Third Point has invested before Rakuten Capital.
- Top Co-investors of Rakuten Capital: 113 investors entered a company along with Rakuten Capital. These include investors like B Dash Ventures (2 companies).
- Invested after Rakuten Capital: A total of 200 investors have invested in Rakuten Capital's portfolio after their investments. Top Investors include Rakuten (4 companies), Goldman Sachs (3 companies) and Kingdom Holding Company (2 companies).
Recent News related to Rakuten Capital
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65,580 Shares in Phillips 66 $PSX Bought by Rakuten Investment Management Inc.Themarketsdaily•Aug 30, 2026•Phillips 66, Rakuten Capital
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Rakuten Investment Management Inc. Takes Position in Yum! Brands, Inc. $YUMWatch List News•Aug 30, 2026•Rakuten Capital, YUM! Brands, BlackRock
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Rakuten Investment Management Inc. Raises Holdings in IDEXX Laboratories, Inc. $IDXXJun 17, 2026•Rakuten Capital, IDEXX
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Rakuten Investment Management Inc. Raises Stock Holdings in Teradyne, Inc. $TERThelincolnianonline•Jun 17, 2026•Rakuten Capital, Teradyne
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Rakuten Investment Management Inc. Invests $20.59 Million in Capital One Financial Corporation $COFZolmaxNews•Jun 16, 2026•Capital One, Rakuten Capital
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Japan's MW Raises $21M in Seed Round Funding to Build Homes Designed for Physical AIAI Insider•Jun 15, 2026•Hang Seng Bank, Rakuten Capital, Mwcomponents
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InsightX, a customer experience (CX) transformation AI platform provider, raises ¥200 millionSogyo Techo•Feb 12, 2026•Illume, Rakuten Capital
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Manpuku Holdings raises approximately 3.5 billion yen in Series C final roundStartup Log•Jan 15, 2026•Manpuku Holdings, Rakuten Capital, B Dash Ventures
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Baaz Bikes to raise $2.2 million from Big Capital, Rakuten Capital, and Kalaari CapitalEntrackr•Jul 30, 2025•Baaz, BIG Capital, Rakuten Capital, Kalaari Capital
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Prime Focus's Brahma acquires MetaphysicNewsDrum•Feb 18, 2025•Prime Focus, Metaphysic, DNEG, Brahma and 10 others
