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LayerX

Fintech · Tokyo, Japan · Founded 2018

Established in August 2018, LayerX is a Tokyo-based compound startup pursuing the mission to "digitize all economic activities." The company was founded by CEO Yoshinori Fukushima and CTO Yuki Matsumoto. Fukushima, a graduate of the University of Tokyo with a background in computer science and machine learning, previously founded the news-curation app Gunosy in 2012, leading it to an IPO. Matsumoto also comes from Gunosy, where he served as CTO and spearheaded the blockchain R&D team that would become the precursor to LayerX. Recognizing that B2B operations in Japan lagged behind the consumer sector's digital advancements, they launched LayerX to address inefficiencies in corporate workflows. LayerX operates a multi-faceted business model centered on AI-driven SaaS solutions. Its flagship product is the "Bakuraku" series, a suite of cloud services designed to streamline corporate spending and back-office operations for small, medium, and large enterprises. This series includes tools for invoice processing, expense reimbursement, corporate credit cards, electronic document preservation, and attendance management. Revenue is generated through a SaaS model, with over 10,000 companies using the service as of April 2024. The platform's key differentiator is its deep integration of AI, branded as "BakurakuAI," which automates data entry through high-precision AI-OCR, reconciles receipts with card statements, and supports workflow approvals, significantly reducing manual tasks. Beyond its primary SaaS business, LayerX has expanded into several other domains. The company runs a Fintech business through a joint venture with Mitsui & Co., called Mitsui & Co. Digital Asset Management, which focuses on creating a digital-native asset management company. Another key area is the AI & LLM business, which leverages large language models to develop solutions for operational efficiency and data utilization for corporate and government clients. The company has also developed a PrivacyTech business centered on "Anonify," a technology enabling data utilization across different organizations while preserving privacy. Keywords: corporate spend management, back-office automation, invoice processing, expense reporting, AI-OCR, SaaS, Fintech, digital transformation, B2B software, corporate card, workflow automation, electronic document management, attendance tracking, asset management, privacy tech, Yoshinori Fukushima, Yuki Matsumoto, Bakuraku, Mitsui & Co. Digital Asset Management, Japanese startup