Startup
GCGojo & Company
五常・アンド・カンパニー株式会社
#4 in the Japan Top 100 Startups
| Founded / HQ | 2014 · Tokyo |
|---|---|
| Cumulative raised | ¥46.5B “創業からの累計資本調達額は465億円” Company-stated cumulative · as of 2024-10 · Gojo & Company (PR TIMES) Equity ("資本調達"); the separate ¥15.9B of bank debt raised alongside Series F is excluded. |
| Last round | 2024-10 · Series F · ¥17.5B 175億円 |
| Latest public valuation | Not publicly disclosed (we do not estimate) |
| Unicorn | No |
| Website | gojo.co |
From Japanese sources
Findings from Japanese-language filings, government records, trade press, interviews and job posts, with our English analysis. Items tagged Japanese-only had no English coverage when we checked quickly. Most insightful first.
| 2026-04-26 | Trade pressJapanese-onlyGojo's IPO plan derailed: TSE listing application withdrawn 五常・アンド・カンパニー、狂ってしまった上場計画 NewsPicks reports that Gojo withdrew its Tokyo Stock Exchange listing application after cutting ties with its largest subsidiary, India's SATYA MicroCapital. That changed the basis of its financial statements. One of Japan's most valuable startups (valued above ¥130B) is now off the IPO track. Source: NewsPicks (public lede) |
|---|---|
| 2026-02-24 | Trade pressNikkei Financial: lessons from Gojo's stumble; governance is key in emerging markets 五常の「失敗学」 新興国戦略の要はガバナンス This is the earliest Japanese report that the listing application had been withdrawn. It cites growing opacity in the Indian subsidiary's accounting and a group-wide management review. Gojo's English impact report later confirmed SATYA's separation and a probe into improper transactions. Source: NIKKEI Financial |
| 2026-05-29 | Trade pressJapanese-onlyWIRED Japan: Gojo's setback and who guards a social business's mission 五常・アンド・カンパニーの蹉跌──ソーシャルビジネスのミッションは誰が担保するのか A long analysis of how scale and mission conflict in commercial microfinance, set against Gojo's SATYA problems. It is useful for judging whether Gojo's impact-investor LP base will stay patient now that the IPO has slipped. Source: WIRED.jp |
Overview
Gojo & Company is a Tokyo holding company that owns and runs microfinance institutions in developing countries, aiming to be a 'private-sector World Bank'. Through group companies in 12 countries across Asia and Africa (including India, Cambodia, Sri Lanka and Tajikistan), it lends small amounts to micro and small businesses. Income is interest on that loan book: by March 2024 it served 2.4M customers with a consolidated loan portfolio above ¥120B and over 10,000 staff, and it turned consolidated-profitable in FY2023/3. It has raised ¥46.5B of equity since 2014, plus large bank debt that we exclude from equity totals.
Built from: Series F release
Company timeline
Founded
| Date | 2014-07-04· Gojo |
|---|---|
| Founders | Taejun Shin |
| Origin | A former Morgan Stanley/Unison private-equity investor set out to bring affordable financial services to 50 countries. |
Funding
| Date | Round | Amount | Lead / key investors | Source |
|---|---|---|---|---|
| 2019-08-29 | Series C (second close) | ¥2.6B 26億円 | PR TIMES | |
| 2019-10-17 | Series C (close) | ¥4.22B 42.2億円 | PR TIMES | |
| 2020-02-05 | Debt | $9M 900万ドル | PR TIMES | |
| 2020-04-16 | Series D | ¥2.33B 23.3億円 | PR TIMES | |
| 2020-09-15 | Series D (close) | ¥2.02B 20.2億円 | PR TIMES | |
| 2020-12-16 | Series D (final close) | ¥7.07B (cumulative ¥14.67B) シリーズDの調達総額は70.7億円 | Gojo | |
| 2022-11-09 | Series E | ¥7B 70億円 | PR TIMES | |
| 2023-02-22 | Funding | ¥3B 30億円 | PR TIMES | |
| 2023-10-04 | Series E (final close) | ¥14.1B round total (cumulative ¥28.9B) 同ラウンドの調達総額は141億円 | JOIN (Cool Japan Fund) ¥3B in Jan 2023, Globis, SMBC Venture Capital | Gojo |
| 2023-10-12 | Debt | ¥9B 90億円 | PR TIMES | |
| 2024-10-24 | Series F | ¥17.5B equity (+ ≈¥15.9B bank debt, excluded) 合計175億円のシリーズFラウンド…累計資本調達額は465億円 | GMO VenturePartners (follow-on), domestic institutions, overseas DFIs | Gojo |
Key hires & board
None compiled yet.
Milestones
| 2023-10-04 | FinancialsConsolidated profit in FY2023/3: ¥18.6B financial revenue, ¥1.76B operating profit· Gojo |
|---|---|
| 2024-10-24 | Traction12 countries, 2.4M customers, consolidated loans > ¥120B· Gojo |
| 2025-01-20 | RegulatoryGojo obtains B Corp certification· PR TIMES |
| 2025-03-31 | AcquisitionGojo agrees to acquire an additional 16.6% of Georgia's JSC Credo Bank· PR TIMES |
| 2025-07-18 | CorporateGojo sets up its first social finance framework· PR TIMES |
| 2025-10-06 | AcquisitionGojo acquires 14.99% of Chamroeun· PR TIMES |
News
| 2026-09-30 | Gojo raises stake in Uzbek microfinance institution Renesans to 19.8% 民間版の世界銀行を目指す五常・アンド・カンパニー、ウズベキスタンのマイクロファイナンス機関Renesansの持分を19.8%に引き上げ· PR TIMES |
|---|---|
| 2026-09-29 | Gojo publishes Impact Report (September 2026) 民間版の世界銀行を目指す五常・アンド・カンパニー、インパクトレポート（2026年9月）を発行· PR TIMES |
| 2026-06-29 | Gojo signs share-purchase agreement for majority stake in Cambodia's Chamroeun Microfinance 民間版の世界銀行を目指す五常・アンド・カンパニー、カンボジアのChamroeun Microfinanceの過半数株式を取得する株式譲渡契約を締結· PR TIMES |
| 2026-02-24 | Gojo partners with MSC on Bangladesh financial diaries research 民間版の世界銀行を目指す五常・アンド・カンパニー、バングラデシュのフィナンシャル・ダイアリー調査においてMSCと提携· PR TIMES |
| 2025-10-06 | Gojo acquires 14.99% of Chamroeun 民間版の世界銀行を目指す五常・アンド・カンパニー、Chamroeunの株式14.99%を取得· PR TIMES |
| 2025-09-19 | Gojo raises stake in Tajikistan's CJSC Bank Arvand to 99.7% 民間版の世界銀行を目指す五常・アンド・カンパニー、タジキスタンのCJSC Bank Arvandの持分を99.7%に引き上げ· PR TIMES |
| 2025-08-12 | Gojo's Tajik group company Humo obtains a banking licence 民間版の世界銀行を目指す五常・アンド・カンパニー、タジキスタンのグループ会社Humoが銀行免許を取得· PR TIMES |
| 2025-07-31 | Gojo publishes Impact Report (July 2025) 民間版の世界銀行を目指す五常・アンド・カンパニー、インパクトレポート（2025年7月）を発行· PR TIMES |
| 2025-07-18 | Gojo sets up its first social finance framework 民間版の世界銀行を目指す五常・アンド・カンパニー、初のソーシャルファイナンス・フレームワークを策定· PR TIMES |
| 2025-07-11 | Gojo expands in Uzbekistan through investment in Renesans 民間版の世界銀行を目指す五常・アンド・カンパニー、Renesansへの出資を通じてウズベキスタンにおける展開を拡大· PR TIMES |
| 2025-05-29 | Gojo renews its corporate website 民間版の世界銀行を目指す五常・アンド・カンパニー、コーポレートサイトをリニューアル· PR TIMES |
| 2025-03-31 | Gojo agrees to acquire an additional 16.6% of Georgia's JSC Credo Bank 民間版の世界銀行を目指す五常・アンド・カンパニー、ジョージアのJSC Credo Bankの株式16.6%を追加取得する株式譲渡契約を締結· PR TIMES |
| 2025-02-28 | Gojo expands in Tajikistan through investment in CJSC Bank Arvand 民間版の世界銀行を目指す五常・アンド・カンパニー、CJSC Bank Arvandへの出資を通じてタジキスタンにおける展開を拡大· PR TIMES |
| 2025-01-20 | Gojo obtains B Corp certification 民間版の世界銀行を目指す五常・アンド・カンパニー、社会や環境に配慮した公益性の高い企業に対する国際的な認証制度であるB Corp(TM)認証を取得· PR TIMES |
| 2024-12-23 | Gojo enters Georgia through investment in JSC Credo Bank 民間版の世界銀行を目指す五常・アンド・カンパニー、JSC Credo Bankへの出資を通じてジョージアに進出· PR TIMES |
| 2024-10-25 | GMO VenturePartners makes follow-on investment in Gojo 五常・アンド・カンパニー株式会社に対し、追加出資致しました· GMO VenturePartners |
| 2024-10-25 | Gojo completes ¥17.5B Series F and raises ¥15.9B debt from six domestic lenders 民間版の世界銀行を目指す五常・アンド・カンパニー、175億円のシリーズFラウンド資金調達を完了。併せて、国内金融機関6社より159億円のデット調達を実施· PR TIMES |
| 2024-10-24 | Gojo completes ¥17.5B Series F and ¥15.9B of bank debt 五常・アンド・カンパニー、175億円のシリーズFラウンド資金調達を完了· Gojo |
| 2023-10-04 | Series E closes at ¥14.1B; group profitable in FY2023/3 シリーズEラウンドを141億円で最終クローズ、2023年3月期は連結黒字化· Gojo |
| 2020-12-16 | Gojo completes ¥7.07B Series D 累計70.7億円のシリーズD資金調達を完了· Gojo |
Funding rounds in 2026
No 2026 rounds in our database yet. Earlier funding is summarised above from the cited source.