KABU&

What KABU& does

KABU& (株がもらえるカブアンド), operated by 株式会社カブ&ピース (Kabu & Peace Co., Ltd.), is a Tokyo-based consumer services platform founded in 2024 by Yusaku Maezawa, the entrepreneur behind ZOZO. The platform aggregates 14 everyday services—electricity, gas, mobile, fiber, Wi-Fi, water delivery, furusato tax donation, insurance, a JCB-network credit card, travel booking, telemedicine, an eSIM service, a cashback portal, and a shareholder merchandise store—into a single account under the KABU& brand. Its core differentiator is a proprietary stock-voucher (株引換券) exchange system in which users earn electronic tickets worth 1 yen each based on service usage (1–20% of spend, depending on service and membership tier); eight tickets can be exchanged for one class share of KABU& itself at the periodic issuance price (8 yen in round 3, 8–11 yen expected in round 4). Membership tiers—Plus at 500 yen/month (2x rewards) and Premium at 2,500 yen/month or 30,000 yen/year (4x rewards, scratch cards, priority event access)—introduce subscription monetization on top of transactional utility commissions.

KABU& operates a direct-to-consumer, product-led and community-led GTM model. Users sign up via website or mobile app, switch utility providers without service disruption (reselling Docomo/au/SoftBank networks for mobile and partnering with electricity/gas providers), and accumulate equity in the company through ordinary consumption rather than traditional investing. The platform's go-to-market is heavily driven by founder-led content marketing, the MZDAO supporter community, and viral word-of-mouth across the shareholder base, which reached 1,014,297 by June 2026 (ranking 6th in Japan by shareholder count) in only 1 year and 7 months. The strategic intent is to convert customers into shareholders—what the company calls 国民総株主 ("a nation of shareholders") and "co-creation capitalism"—aligning user incentives with the platform's growth ahead of a potential IPO, after which accumulated class shares would become tradable.

The business model is multi-stream: utility-resale commissions and card interchange fees (transactional), Premium/Plus subscriptions (recurring), medical consultation and medication delivery fees (recurring, subscription-based), and travel/insurance/cashback commissions (transactional). Revenue is not publicly disclosed. The platform has raised approximately $16.75M in disclosed funding (August 2024), operates a wholly-owned insurance-agency subsidiary (株式会社KABU&ほけんパートナーズ), and is expanding into distributed energy aggregation through the Minna de Hatsudensho co-creation initiative planned for summer 2026.

Name

KABU&

Legal name

株式会社カブ&ピース

Website

https://kabuand.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

51–100 employees

Short description

KABU& is a Tokyo-based consumer services platform founded in 2024 by Yusaku Maezawa that rewards users with the company's own unlisted stock for using 14+ everyday services including utilities, mobile, insurance, credit card, travel, and telemedicine.

Ownership category

akta.pro rank

Product category

Consumer Loyalty & Utility Services Platform

NAICS

Sales Financing (52222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN)

akta.pro secondary industry

Third-Party POS Installment Financing Platforms (FSAKAFAB)

Keywords

• Consumer utility services
• Stock loyalty rewards
• Telecom mobile services
• Online medical consultations
• Utility bill aggregation

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Marketing or Sales, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Utility Services Commission: KABU& acts as a reseller for utility services (electricity, gas, mobile, internet). Revenue comes from margins on these services, with users receiving stock vouchers instead of traditional cash rewards.
2. Premium Membership Fees: KABU& Plus membership (500 yen/month) provides 2x stock voucher rewards, and KABU& Premium membership (2,500 yen/month or 30,000 yen/year) provides 4x rewards plus additional perks like scratch cards and surveys.
3. Credit Card Transaction Fees: KABU& Card generates revenue through merchant transaction fees when users make purchases, with additional stock voucher rewards for card payments.
4. KABU& Medical Service Fees: Online medical consultation and medication delivery service, starting with AGA treatment at 1,600 yen/month for generics.
5. Travel and Other Services: Commissions from travel bookings (KABU& Travel), water delivery, insurance products, and other lifestyle services.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

KABU& operates a direct-to-consumer platform that rewards Japanese users with the company's own unlisted class shares (via electronic stock vouchers redeemable at periodic exchanges) in exchange for using everyday services such as electricity, gas, mobile telecom, fiber/Wi-Fi internet, water delivery, travel, insurance, furusato tax donations, credit card payments, online medical consultations, and a cashback rewards portal. A tiered membership (Plus at 500 yen/month, Premium at 2,500 yen/month or 30,000 yen/year) multiplies the stock voucher earning rate.

Product overview

KABU& is a platform that rewards users with company stock (株) for using everyday services, functioning as a consumer-facing platform-plus-modules architecture. The core offering combines a multi-service utility provider model with a stock-based loyalty program. The main product modules include: KABU& Card (credit card), KABU& Denki/Gas (utilities), KABU& Mobile/Hikari/Wi-Fi (telecommunications), KABU& Water (water servers), KABU& Furusato (tax donations), KABU& Hoken (insurance), KABU& Travel, KABU& Medical (online consultations), and KABU& Kabu-katsu (rewards portal). Users earn 'stock vouchers' (株引換券) that can be exchanged for company shares upon IPO. The platform operates tiered membership (KABU& Plus, KABU& PREMIUM) that multiplies earning rates, plus gamification features like KABU& Scratch. The ecosystem also includes co-creation initiatives like 'Minna de Hatsudensho' (distributed power generation) and a shareholder merchandise store.

Differentiator

Problem solved

Functional benefit

Brands

• KABU& Plus: Premium membership plan offering double stock exchange ticket earning rates
• KABU& PREMIUM
• KABU& Medical

Products and services

• KABU& Denki Retail electricity supply service for Japanese households; users switch from their existing electricity provider and earn stock vouchers on usage (1–4% based on membership tier).
• KABU& Gas City gas and propane supply service for Japanese households; users switch providers and earn stock vouchers on usage (1–4% based on membership tier).
• KABU& Mobile Mobile phone service offering DOCOMO, AU, and SoftBank network options; users keep their phone number and device and earn 5–20% stock vouchers based on membership tier.
• KABU& Hikari Fiber optic internet service for households; users switch providers without installation work in most cases and earn 5–20% stock vouchers on subscription fees.
• KABU& Wi-Fi WiFi router rental service for households with no installation required; ready to use on delivery and earns 1–4% stock vouchers.
• KABU& Water Water server subscription service offering natural water and filtered water servers; users earn 5–20% stock vouchers on subscription fees.
• KABU& Furusato Furusato tax donation service offering 700,000+ reward options; stock vouchers are earned through KABU& Card payments on donations (1 voucher per 200 yen for Regular/Plus members).
• KABU& Card JCB-network credit card that earns stock vouchers on purchases (1–4 vouchers per 200 yen spent by tier, with 2x/4x multipliers when used to pay for KABU& services).
• KABU& Hoken Insurance brokerage service covering life, automobile, and pet insurance; stock vouchers are earned through KABU& Card payments on premiums.
• KABU& Travel Travel booking service for domestic and international accommodations (700,000+ hotels worldwide); users earn 1–4% stock vouchers on bookings.
• KABU& Medical Online medical consultation service providing video consultations with doctors and home delivery of prescribed medication; currently offering AGA (hair loss) treatment starting at 1,600 yen/month with 5–20% stock voucher rewards on payments.
• KABU& Kabu-katsu (カブ活) Cashback and rewards portal where users earn stock vouchers by shopping through the platform, downloading apps, scanning receipts, and registering for partner services.
• KABU& International eSIM International eSIM service for travelers abroad, provided through partnership with Trifa Inc., handling setup inquiries and customer service for international roaming.
• KABU& Plus Membership Premium subscription plan at 500 yen/month (tax included) that doubles stock voucher earning rates across all KABU& services and provides access to exclusive content and CEO article comments.
• KABU& PREMIUM Membership Top-tier subscription plan at 2,500 yen/month or 30,000 yen/year that quadruples stock voucher earning rates, adds a 3,000 voucher signup bonus, 120 scratch entries annually (or 20/month on the monthly plan), and priority access to shareholder events.
• KABU& STORE (Shareholder Goods) Online store selling shareholder commemorative goods including apparel, accessories, and lifestyle items; purchases earn 5–20% stock voucher rewards.

Quantifiable outcome

• 1,014,297 shareholders in 1 year 7 months - becoming Japan's 6th largest company by shareholder count
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• NTT Docomo, KDDI (au), SoftBankcoreTechnology or IntegrationKABU& Mobile service utilizes the networks of Japan's three major telecom carriers, allowing users to choose their preferred network (docomo, au, or SoftBank) while receiving KABU& branded service and stock rewards.
• JCBcoreTechnology or IntegrationJCB is the payment network for KABU& Card, enabling stock voucher rewards on all card transactions. The partnership provides the infrastructure for the card's stock earning mechanism.
• 提携医療機関 (Partner Medical Clinics)coreStrategic or Co-development PartnerKABU& Medical partners with licensed medical institutions to provide online consultations and medication delivery. These clinics are licensed by health authorities and prescribe medications sourced through proper import channels.
• 株式会社KABU&ほけんパートナーズcoreChannel Partner/ Reseller/ DistributorA subsidiary insurance agency that handles life insurance, automobile insurance, and pet insurance offerings under the KABU& brand, collecting premiums and distributing stock voucher rewards.
• Electricity and Gas ProviderscoreChannel Partner/ Reseller/ DistributorKABU& denki and KABU& gas services partner with various energy providers to offer switching services while maintaining service quality and safety.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Mercari: Japanese C2C marketplace with payments (Mercari Pay), crypto, and merchant services. Comparable as a Japanese consumer fintech platform leveraging a large retail user base, though focused on marketplace rather than utility aggregation.
• GMO Internet Group: Diversified internet conglomerate covering hosting, domain, e-commerce, online securities (GMO Click), crypto (GMO Coin), and consumer finance. Comparable as a multi-vertical Japanese consumer internet platform spanning financial and lifestyle services.
• SBI Holdings: Japanese financial conglomerate spanning online brokerage (SBI Securities), banking, insurance, and asset management. Relevant as a vertically integrated consumer finance platform, though SBI's primary monetization is financial product distribution rather than utility/telecom aggregation.
• NTT Docomo (d POINT program): Japan's largest mobile carrier and operator of the d POINT multi-company loyalty ecosystem (utility, retail, services). Compares on the multi-service consumer platform plus cross-vertical loyalty rewards architecture, but d POINT is a closed-loop points currency rather than equity.
• KDDI (au / Ponta): Telecommunications incumbent offering mobile, energy (au Denki), finance, and commerce services integrated through the Ponta loyalty program. Comparable in multi-vertical consumer aggregation; differs in scale (KDDI is a major listed telco) and loyalty mechanics (Ponta points vs. KABU& stock vouchers).
• Sumitomo Mitsui Financial Group (V-Point / T-Point): Banking conglomerate that operates the V-Point multi-company loyalty ecosystem (merged from T-Point). Comparable for cross-vertical consumer loyalty infrastructure, though loyalty is points-based rather than equity-based and tied to a major bank.

Emerging players

• Monex Group: Online brokerage group (Monex, TradeStation) and crypto exchange operator. Comparable only at the retail-investor/securities-distribution layer of KABU&'s model; lacks the utility/telecom consumer aggregation.

Direct peers

• LY Corporation (PayPay / LINE Yahoo): Operates PayPay mobile payments alongside LINE messaging, Yahoo! JAPAN, and a digital financial services stack. Comparable as a high-frequency consumer fintech platform with a loyalty/rewards layer, although its rewards (PayPay Points) are not equity-linked.
• Rakuten Group: Japan's most prominent multi-service consumer ecosystem (mobile, electricity, gas, internet, bank, securities, credit card, insurance) unified by Rakuten Points as a cross-vertical loyalty currency. Most direct comparison to KABU&'s 14-service utility/telecom/financial aggregation model; differs in that Rakuten uses points, not equity, as the loyalty hook.

Others

• ZOZO (Yahoo! JAPAN Shopping subsidiary): Founder Maezawa's previous company, now a Yahoo! JAPAN Shopping subsidiary. Relevant as a Maezawa-era benchmark for consumer brand-building and IPO execution; not a direct competitive peer but illustrative of founder capability.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/kabuand_jp
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KABU&