📋 Tender Overview
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) made an equity investment in Cordia Directions, Ltd. (Cordia; CEO: KAGANOI Kaoru), a Japanese startup. The investment, made through JBIC’s Special Operations Account*1, is based on its Startup Investment Strategy*2.
Since its foundation in 2020, Cordia has developed a next-generation marketplace for the used car market in the Republic of Kenya. The platform, operated through its local subsidiary under the brand name Peach Cars, enables customers to conduct transactions in a transparent, trustworthy, and user-friendly manner. Cordia aims to address challenges facing the Kenyan used-car market, such as information asymmetry and unclear pricing. To this end, Cordia ensures transparency in the quality of used cars based on Japanese vehicle inspection standards and provides secure payment and safe delivery of vehicles.
The investment will support Cordia’s global expansion, thereby contributing to strengthening the international competitiveness of Japanese industry. This investment is also in line with the policy of the Japanese government such as the Startup Development Five-year Plan, approved by the Cabinet in November 2022, where government announced its goals including nurturing startups that aggressively challenge the global market.
As Japan's policy-based financial institution, JBIC will contribute to the development of Japan’s startup ecosystem by supporting the overseas expansion of Japanese startups and promoting collaboration between foreign startups and Japanese companies. This will be achieved through investment activities and support for portfolio companies based on its Startup Investment Strategy.
