Unicorn

What Unicorn does

Unicorn Inc. (株式会社ユニコーン) is a Tokyo-based equity crowdfunding platform operator registered as a Type I Small Amount Electronic Offering Provider (第一種少額電子募集取扱業者) with the Kanto Finance Bureau (registration no. 3110) and a specific business member of the Japan Securities Dealers Association. Founded in December 2018 and headquartered in Nagata-cho, Chiyoda-ku, Unicorn operates the web-based platform at unicorn-cf.com, which connects Japanese early-stage startups seeking growth capital with individual (retail) investors under Japan's regulated ECF framework. The company is a group/subsidiary of ZUU Co., Ltd., the operator of the financial media property ZUU online (~4M users), and is led by Representative Director and CEO Yasuda Jiro with Director Fujita Tsutomu (appointed August 2021).

The product surface comprises three integrated offerings: the core equity crowdfunding platform with project listing, investor registration, and application processing; standardized Shareholder Agreement templates in both Standard and Extension variants that codify post-funding exit mechanics (IPO/M&A); and Angel Tax System support services that assist investors in claiming Japan's venture-investment tax benefits. The revenue model is a 20% success-based take rate on capital raised per project (plus consumption tax), with no upfront or review fees for issuers; investor registration is free, and individual investments are capped at 500,000 yen per investee company per year under regulatory rules. Across 38+ projects since 2019, cumulative gross capital raised exceeds 900M JPY, with several campaigns substantially exceeding targets (e.g., Riken World at 608% of target, Snap Dish at 533%, Disbii 4th round at 399%).

Operationally, Unicorn serves a domestic Japanese investor and issuer market only and has pursued regional ecosystem partnerships with Saga Prefecture, the Fukushima Innovation Coast Framework Promotion Organization, the Osaka SDGs Business Meet-UP program, and Tokyo University of Science Investment Management. The company experienced multiple high-traffic system failures between 2019 and 2021 (notably the 9th campaign in October 2020, which saw a 60x traffic spike and required an 800% database scaling event), prompting operational remediation. Unicorn was certified as an Angel Tax System business operator by METI in October 2020, received an Excellence Award in the Support Organization category at the Innovation Business Awards 2021, and was certified as a Tokyo-designated ECF handling operator in July 2023. In April 2025, the company publicly warned the market about a "J-Unicorn" impersonator misusing its brand and Kanto Finance Bureau registration number in apparent investment fraud schemes.

Name

Unicorn

Legal name

株式会社ユニゴン

Website

https://unicorn-cf.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Unicorn (株式会社ユニコーン) is a Tokyo-based, Kanto-Finance-Bureau-registered equity crowdfunding platform that connects early-stage Japanese startups with individual retail investors under a 20% success-based fee model.

Ownership category

akta.pro rank

Product category

Equity Crowdfunding Platform

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equity Capital Introduction & Prime Services (FSACAFAK)

akta.pro secondary industries

Accelerator / Incubator-Backed ETA Programs (FSANALAD), Micro-PE / Lower Middle Market ETA Funds (FSANALAG)

Keywords

• Equity crowdfunding
• Startup capital raising
• Retail investor platform
• Securities offerings platform
• Venture investment marketplace

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Success-based platform fees: Unicorn charges a 20% fee (plus consumption tax) on the total amount raised by issuers through the platform. This is a pure success-based model with no upfront fees or review fees. The fee applies to the gross capital raised per project.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels5 records

Core offering

Unicorn operates a regulated Japanese equity crowdfunding platform that enables early-stage startups to raise capital by issuing shares directly to individual investors through online securities offerings. The platform charges a 20% success-based commission (plus consumption tax) on the total capital raised per project, with no upfront fees. It also provides standardized shareholder agreement templates and angel tax filing support services.

Product overview

Unicorn operates a unified equity crowdfunding platform that connects startup companies seeking capital with individual investors. The core offering consists of the web-based crowdfunding platform at unicorn-cf.com, supplemented by shareholder agreement services to facilitate post-investment equity management and exit mechanisms. The company also provides Angel Tax system support to help investors access tax benefits when investing in qualifying ventures.

Differentiator

Problem solved

Functional benefit

Products and services

• Unicorn Equity Crowdfunding Platform (Unicorn 株式投資型クラウドファンディング) A web-based equity crowdfunding platform enabling Japanese startups to raise capital by issuing shares directly to individual investors. It provides project listing, investor registration and identity verification, application processing during fundraising windows, and ongoing shareholder management services. Targeted at Japanese startups seeking growth capital and at Japanese retail investors with 2M+ JPY in financial assets seeking early-stage venture exposure.
• Shareholder Agreement Service (株主間契約)

Quantifiable outcome

• Multiple projects exceeding 200%+ of fundraising targets, with some reaching full capacity within minutes of opening
• +2 more outcomes

Named customers19 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered strategic, minor and core.

• Angel Lunch Program PartnersstrategicStrategic or Co-development Partner · 1 December 2022Lunchtime acceleration program 'Angel Lunch' — a joint initiative targeting entrepreneurs and aspiring startup founders. The program includes pitching events and business contests aimed at discovering companies with 100 billion yen valuation potential.
• 福島イノベーション・コースト構想推進機構 (Fukushima Innovation Coast Framework Promotion Organization)minorStrategic or Co-development Partner · 15 February 2021Joined as a supporter of FukushimaTechCreate initiative to support startups in the Fukushima region through ECF.
• Osaka SDGs Business Meet-UP サプライヤー企業minorStrategic or Co-development Partner · 10 February 2021Supporting organization for Osaka SDGs Business Meet-UP, promoting sustainable business development in the Osaka region.
• 東京理科大学インベストメント・マネジメント株式会社 (Tokyo University of Science Investment Management Co., Ltd.)strategicStrategic or Co-development Partner · 22 April 2020Inubation partnership agreement for joint acceleration programs. Collaborated on the 'Japan Tech-based Venture Competition 2021' and other technology venture pitching events to identify and support high-potential startups.
• 株式会社ZUU (ZUU Co., Ltd.)coreStrategic or Co-development Partner · 13 December 2019Capital and business alliance partner. ZUU operates ZUU online, a financial media platform reaching 4 million users. ZUU is the parent group company of Unicorn, providing brand credibility, user traffic, and financial industry connections.
• 佐賀県 (Saga Prefecture)minorStrategic or Co-development Partner · 28 May 2019Cloud utilization cooperation agreement to promote ECF and support local startup ecosystem development in Saga Prefecture.
• 日証金信託銀行株式会社 (Nikkin Shim Trust Bank)minorOthersTrust bank holding investor application funds separately from company assets to ensure fund safety and protection.
• 日本証券業協会 (Japan Securities Dealers Association)minorOthersUnicorn is a member of the Japan Securities Dealers Association and has designated the Securities and Financial Instruments Mediation Consultation Center (FINMAC) as its dispute resolution body.
• 証券・金融商品あっせん相談センター (Securities and Financial Instruments Mediation Consultation Center, FINMAC)minorOthersDesignated dispute resolution institution (指定紛争解決機関) as required under the Financial Instruments and Exchange Act.
• 経済産業省 / 金融庁 (Ministry of Economy, Trade and Industry / Financial Services Agency)coreOthersUnicorn is registered as a Type I Small Amount Electronic Offering Provider (第一種少額電子募集取扱業者) with the Kanto Finance Bureau (Registration No. 関東財務局長（金商）第3110号), subject to oversight by the Financial Services Agency and Ministry of Economy, Trade and Industry.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• FUNDINNO: Japan's largest equity crowdfunding platform and Unicorn's most direct domestic competitor. Both operate as FSA-registered Type I Small Amount Electronic Offering Providers, facilitating equity raises from Japanese startups via individual investors under identical regulatory framework.
• Crowdcube: UK-based equity crowdfunding platform connecting private companies with individual investors. Highly comparable business model and operating mechanics — standardized nominee structures, regulated intermediary status, and dual-sided issuer/investor marketplace.
• Republic: US-based equity crowdfunding and investment platform (post-merger with Seedrs) operating under SEC Regulation Crowdfunding. Comparable retail-investor-to-startup matching model and scale positioning within a major English-language market.
• WeFunder: US equity crowdfunding platform operating under Regulation Crowdfunding. Comparable dual-sided marketplace connecting retail investors with early-stage private companies; useful cross-jurisdictional comparison for fee structure and growth model.
• StartEngine: SEC-registered US equity crowdfunding platform operating under both Reg CF and Reg A+, enabling individual investors to access private company shares. Among the largest US volume operators in the same regulatory category as Unicorn.
• Seedrs: UK/EU equity crowdfunding platform (combined with Republic since 2022) using a comparable nominee-based secondary market mechanism and standardized shareholder structure. Highly comparable functionality for cross-border benchmarking.

Broad incumbents

• AngelList: US platform providing rolling funds, syndicates, and deal-flow services for venture investment. Operates in adjacent fundraising-for-startups space with broader portfolio including venture fund administration and job matching.
• SBI Investment: Part of Japanese SBI Group encompassing venture capital, brokerage, and broader financial services. Represents the broader Japanese financial ecosystem in which Unicorn operates — encompasses but extends well beyond the ECF focus area.
• Rakuten Securities: Major Japanese online securities broker providing retail investors with broad access to financial products. Not a direct ECF competitor but represents the broader retail-brokerage landscape competing for Japanese retail capital allocation; potential future adjacency.

Others

• ZUU Co., Ltd. Parent entity of Unicorn, operating the financial media platform ZUU online with approximately 4M users. Provides capital, distribution leverage, and brand credibility support to Unicorn's equity crowdfunding operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/unicorncf
• Facebookfacebook.com/unicorncfcom

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Unicorn