Z Venture Capital ("ZVC") has made an investment in Dwilar, Inc. ("Dwilar"), which operates a cross-border credit platform, in its seed round. This investment in Dwilar marks the second investment following the pre-seed round.

The annual number of foreign visitors to Japan reached 36 million for the first time in 2024, significantly surpassing the previous record. (¹Japan National Tourism Organization). As of the end of October last year, the number of foreign workers in Japan exceeded 2.3 million, recording an increase of more than 12% compared to the previous year. (² Ministry of Health, Labour and Welfare).

While people visit Japan for various purposes such as tourism, work, and study, many struggle at the "entry points of life infrastructure" such as rental contracts, installment purchases of mobile devices, and opening bank accounts or credit cards because they lack a credit score in Japan. This is due to the structural issue where Japan's credit system relies on domestic credit information and cannot adequately utilize overseas credit data.

Dwilar, in which ZVC is now investing, is solving this gap. They have integrated credit information agencies from 42 countries and major open banking APIs to develop a cross-border credit platform that allows foreigners to present their home country's credit data in real-time. In just four months since its official launch (February 2025), the service has already been implemented by 12 companies in Japan and the US, demonstrating strong traction with a Projected ARR of 120 million yen and a monthly growth rate of 300%.

Real estate agencies and guarantor companies are incorporating Dwilar's data into their screening processes, improving the contract completion rate for foreign customers. While the product value directly addressing current customer issues already shows sufficient growth potential, the range of collaboration partners continues to expand. Furthermore, in the future, they aim to build an ecosystem that comprehensively supports "life setup" by extending functionality beyond credit assessment to AI agents that automate property selection and contract administration.

Founder and CEO Yoshitaka Nakamura is an entrepreneur who alternates between thinking and implementation at an extraordinary speed, originating from "the absurdity of credit" he experienced during his own immigration. His volume of action and execution power are remarkable—he conducts customer verification the following week based on hypotheses born from casual conversations and quickly finalizes contracts. This high-speed loop is the driving force that brings the market and product infinitely close to zero distance, and it is the quality that investors can most rely on during the seed stage.

"Smoothing people's movement and challenges through credit." We are confident that Dwilar will become a new infrastructure supporting a multicultural society. Z Venture Capital will also provide support to create the future together.

We conducted an interview with Dwilar and ZVC alongside this investment. Please also check out the interview article：https://zvc.vc/dwilar_zvc_interview/

Dwilar's website: http://dwilar.tech

(Sources)

*¹ Japan National Tourism Organization：Number of Foreign Visitors to Japan (December 2024 and Annual Estimate)
https://www.jnto.go.jp/news/press/20250115_monthly.html

*² Ministry of Health, Labour and Welfare：Summary of "Status of Foreign Employment" Reports (As of the end of October 2025)
https://www.mhlw.go.jp/stf/newpage_50256.html?utm_source=chatgpt.com