Mitsubishi UFJ Capital Co., Ltd. and SMBC Venture Capital Co., Ltd. acquire equity interests in the company
Itsuki Nomura appointed general manager of nCino K.K.
TOKYO and WILMINGTON, N.C., Dec. 21, 2020 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Mitsubishi UFJ Capital Co., Ltd., the venture capital arm of the Mitsubishi UFJ Financial Group, and SMBC Venture Capital Co., Ltd., an affiliate of Sumitomo Mitsui Banking Corporation, have acquired an equity stake in nCino K.K., nCino’s subsidiary in Tokyo. Additionally, Itsuki Nomura, formerly of Dell Technologies, has been named general manager of nCino’s Tokyo office.
nCino partnered with Japan Cloud in 2019 to establish nCino K.K., after previously opening offices in London, Toronto and Sydney, to expand its international presence and help transform the Japanese financial services industry. nCino’s comprehensive, cloud-based platform, the nCino Bank Operating System®, enables financial institutions around the globe to increase profitability, productivity and operational efficiency while improving the employee and client experience. The involvement of Mitsubishi UFJ Capital and SMBC Venture Capital and the addition of Mr. Nomura will help nCino further scale its business in Japan as it seeks to accelerate the digital transformation of financial institutions in the country.
Takashi Hasegawa, Managing Director of Mitsubishi UFJ Capital, stated, "In this difficult environment amidst the ongoing pandemic, companies need to provide faster funding and digital services, and financial institutions need to be more efficient to meet these needs. We are confident that nCino's flexible, cloud-based solutions will serve as an infrastructure for financial institutions to adapt to this change and fulfill their mission and client expectations without delay.”
Hironori Shimizu, Managing Director of SMBC Venture Capital, added, "Since its founding in the United States at the end of 2011, nCino has been adopted by a wide range of business units, both corporate and individual, at financial institutions of various sizes, from major banks in North America, Europe and Asia Pacific to community and challenger banks. As Japanese financial institutions are exploring ways to adapt, we hope that nCino will apply the best practices it has cultivated with the world's most advanced banks to drive the digital transformation trend in Japan.”
Mr. Nomura added, “The financial services industry, as the engine of the Japanese economy, requires technological systems that allow for speed and agility, particularly now as the world responds to the global pandemic. nCino, as a cloud-based platform, enables financial institutions to attend to their clients wherever they are without requiring face-to-face services. I look forward to helping nCino become an indispensable partner to Japanese financial institutions as they transform the way they do business.”
About Mitsubishi UFJ Capital
Mitsubishi UFJ Capital actively invests in a wide range of industries to support next-generation growth industries, from manufacturing and lifestyle-related fields to cutting-edge areas such as AI, IoT, Tech, Fintech, SaaS, and life sciences. During the growth period, we provide various management support according to the growth stage, such as support for business collaboration with large companies to expand sales channels and advice on strengthening internal systems for listing, in order to further expand business.
About SMBC Venture Capital
SMBC Venture Capital continues to invest in growing companies with the aim of improving people's lives and solving social issues, regardless of industry or stage, and is not affected by economic trends or market conditions. By building a relationship of trust with the management and utilizing the SMBC Group's network to bridge the gap between the investee and large companies, human resources, and specialists, we will actively work to support the management of the investee and work together as a company. We will promote value enhancement.
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino's single digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com.
Claire Sandstrom, nCino
Natalia Moose, nCino
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.