Migalo Holdings

What Migalo Holdings does

Migalo Holdings Inc. (TYO:5535), established October 2023 as the holding company of the Migalo Group, is a Japanese digital transformation (DX) conglomerate headquartered in Shinjuku, Tokyo, with 251-500 employees. The group traces its roots to Property Agent Inc. (founded 2004) and operates three core business segments: Smart City Facial Recognition, Cloud Integration/Systems Development, and DX Real Estate. The flagship product is FreeiD, a multi-engine facial authentication ID platform offered through subsidiary DXYZ Inc., which enables a single face registration to replace physical keys, cards, and IDs across residential buildings, offices, childcare facilities, theme parks, and payment scenarios. As of May 2026 FreeiD is deployed in 398 buildings across 18 Japanese prefectures with more than 10,000 residential units installed.

The group's business model blends recurring SaaS-style revenue (FreeiD platform subscriptions, device integration fees, per-transaction payment fees) with traditional real estate economics through Property Agent Inc., which conducts condominium development and sales, rental management, and the Rimple real estate investment crowdfunding platform (minimum 10,000 yen per investment). Cloud integration and Salesforce/MA/CRM implementation services are delivered through subsidiaries including Avant, CloudTechPlus, TIERO, Terra Web Create, Berners, U-System Creation, and Best Practice (acquired September 2024). Revenue is generated across both B2B enterprise sales (real estate developers, corporate offices, manufacturers, insurance firms, childcare operators) and B2C individual investors via crowdfunding. Distribution combines direct enterprise sales with channel partnerships (Yuasa Shoji Group, Shin-Nihon Power Supply, Idex Business Service) and technology integrations (CyberLink FaceMe, Mitsubishi Estate HOMETACT, Haseko LIM Cloud, Osaki OPELO, TB Eye TAS CUBE).

Migalo Holdings went public through the holding company restructuring in 2023 and is listed on the Tokyo Stock Exchange Prime Market. The group has expanded FreeiD's product surface area with three new modules launched since March 2024 — FreeiD Pay (facial payments), FreeiD Reserve (facility booking), and FreeiD MansionPlus (self-service resident authentication via hardware tokens) — and has pursued geographic expansion within Japan plus an initial overseas pilot (Tsuneishi Shipbuilding, East Timor). The group also operates the AXiS AI media platform and integrates AI-driven back-office tools (floor plan auto-generation, rent estimation) into its real estate operations.

Name

Migalo Holdings

Legal name

ミガロホールディングス株式会社

Website

https://migalo.co.jp

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

251–500 employees

Short description

Migalo Holdings (TYO:5535) is a Japanese DX holding company operating the FreeiD multi-engine facial authentication platform across 398+ buildings, alongside cloud integration (Salesforce/AWS) services and DX real estate development and crowdfunding through subsidiaries including DXYZ and Property Agent.

Ownership category

akta.pro rank

Product category

Facial Recognition Identity Platform

NAICS

Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (5312), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531), Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Facial Recognition & Biometrics (HDAAAEAC)

akta.pro secondary industries

Authentication (MFA/Passwordless/Biometrics) Platforms (BPAMAEAE), Smart Lock Software Platforms & Mobile Apps (Access Control SaaS) (HSAHAEAG), Biometric Input Devices (Fingerprint/Face/Iris Scanners) (HDACAFAI)

Keywords

• Facial recognition platform
• Face authentication software
• Real estate digital transformation
• Cloud integration services
• Identity verification platform

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. FreeiD Platform Services: Subscription and licensing fees from providing face authentication platform services to residential buildings, offices, and other facilities. Revenue is generated through device integration fees, monthly service fees, and per-transaction fees for payment services.
2. Real Estate Crowdfunding (Rimple): Property Agent operates Rimple, a real estate investment crowdfunding platform that generates revenue through transaction fees on funded projects and management fees. The platform enables small-scale investments starting from 10,000 yen.
3. Real Estate Development and Sales: Development and sales of residential condominiums with integrated FreeiD face authentication systems, including both investment and residential properties.
4. Property Management Services: Property management (rental management and building management) services through subsidiaries including AKI Commerce and Associa Property.
5. DX System Development and Consulting: Custom DX consulting and system development services provided by subsidiaries including Avant, CloudTechPlus, TIERO, and U-System Creation.
6. Cloud Integration Services: Salesforce and cloud integration services through Berners and Best Practices, including MA/CRM/SFA implementation and support.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Migalo Holdings operates a facial recognition ID platform called FreeiD through its subsidiary DXYZ, enabling keyless living and access control across residential buildings, offices, childcare facilities, theme parks, and commercial venues via multi-engine AI face authentication. The group also provides DX (digital transformation) consulting, cloud integration services (Salesforce, AWS), real estate development, property management, and a real estate crowdfunding platform (Rimple) through its various subsidiaries.

Product overview

Migalo Holdings operates as a DX (digital transformation) group with three core business segments: Smart City Facial Recognition, Cloud Integration/Systems Development, and DX Real Estate. The primary technology platform is FreeiD, a facial recognition ID platform offered through subsidiary DXYZ, providing keyless living, working, and playing through single registration. FreeiD ecosystem includes core FreeiD Mansion (all-face-authentication apartments), plus add-on modules: FreeiD Pay (facial payment), FreeiD Reserve (facility booking), and FreeiDマンションPlus (self-service apartment management). The DX Real Estate segment includes Property Agent's Rimple crowdfunding platform, AI rent estimation, and AI floor plan generation tools. Cloud integration services are delivered through group companies: AVANT (AWS/AI), CloudTechPlus (Salesforce/IoT), Berners (Salesforce/Pardot), TIERO (Salesforce/Pardot), and Terra Web Create (Salesforce consulting).

Differentiator

Problem solved

Functional benefit

Brands

• FreeiD: Facial recognition ID platform enabling keyless living through face authentication for residential, office, and commercial applications
• Rimple
• AXiS
• FreeiD Pay
• FreeiD Reserve
• FreeiDマンションPlus
• Property Agent
• AVANT
• AI Assessment Automation System

Products and services

• FreeiD Facial recognition ID platform enabling keyless living, working, and playing through single face registration. Connects entry/exit control, payment, and identity verification across residential, office, and commercial environments. Targeted at real estate developers, property managers, and corporate facility operators.
• FreeiD Mansion Plus Enhanced apartment management service enabling residents to independently manage facial authentication registration and switching via hardware tokens, eliminating need for property management company involvement. Uses patent-protected hardware token mechanism. Targets condominium management associations and residents.
• FreeiD Reserve Facility reservation service allowing users to book and pay for shared facilities through the FreeiD app with same-day facial recognition access. Integrated with credit card and invoice payment systems. First deployed at The glow Mita.
• FreeiD Pay Facial recognition payment service enabling purchases without wallet or phone. Users authenticate with face and 4-digit PIN to complete transactions at participating merchants. Demonstrated at retail venues and tech showcases with proven transaction throughput.
• Rimple Real estate investment-type crowdfunding platform operated by subsidiary Property Agent. Enables individual investors to participate in real estate projects starting from 10,000 yen, operating under Japan's specific joint real estate business regulations.
• AI Rent Estimation System Automated rent estimation system using AI-OCR to read property documents, calculate area-based returns, and auto-generate business proposals and internal approval documents. Achieved over 300 hours of work reduction and 2.2x per-person productivity improvement. Uses Google Document AI for Japanese property documents.
• AI Floor Plan Auto-Generation System (AVANT) AI-based system that automatically generates floor plan diagrams for web publication from architectural blueprints. Machine learning improves accuracy with repeated use as the system learns common patterns.
• Berners - Salesforce and Pardot Implementation Services Cloud integration services specializing in Salesforce and Pardot implementation for marketing automation, CRM, and sales force automation tools with utilization and stabilization support.
• AVANT - AWS Cloud Consulting Services System consulting services utilizing AWS, covering system development, AI, drone R&D, and cutting-edge technology implementation for enterprise customers.
• CloudTechPlus Salesforce and cloud service integration, IoT data integration service development, and Heroku-based web service development for enterprise digital transformation needs.

Quantifiable outcome

• 2.2x per-person productivity improvement through AI automated rent estimation system
• +5 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability6 records

Feature6 records

Partnerships

14 partnerships are on record, tiered standard, core, major, flagship and strategic.

• Idex Business Service (New-Derikom Group)standardChannel Partner/ Reseller/ Distributor · 4 September 2025Dealer agreement for FreeiD sales in office building segment, following successful deployment at their headquarters office.
• Passlogic CorporationcoreTechnology or Integration · 28 August 2025Technology partnership for FreeiD MansionPlus service, using Passlogic's hardware tokens and one-time password technology for secure face registration management.
• Thales DIS JapancoreTechnology or Integration · 28 August 2025Technology partnership for FreeiD MansionPlus OTP111 hardware tokens providing global-standard digital ID and security technology.
• Broad Japan Co., Ltd.majorStrategic or Co-development Partner · 14 August 2025Standard adoption agreement for all future Broad Japan condominiums, becoming the first Kansai-area developer to standardize FreeiD in shared areas across their portfolio.
• CyberLink CorporationcoreTechnology or Integration · 26 February 2025Integration of CyberLink's AI face authentication engine FaceMe with FreeiD platform, enabling high-accuracy face recognition on Miyagawa Seizo's Knoctoi Lite hardware terminal for residential and office deployments.
• En HoldingsmajorStrategic or Co-development Partner · 24 December 2024Standard adoption for En Holdings' Enclust series condominiums, including first all-face-authentication buildings in Fukuoka region.
• NK TruststandardStrategic or Co-development Partner · 2 December 2024First all-face-authentication new sale condominium in Kyushu region at Lugangu Beppu The Central Luxe.
• BRI CorporationmajorStrategic or Co-development Partner · 18 October 2024Standard adoption for all BRI condominiums under the GALICIA brand, focusing on Tokyo 23 ward properties.
• Haseko Property Solutions (LIM Cloud)coreTechnology or Integration · 3 September 2024Joint demonstration with Haseko's LIM Cloud residence management platform, integrating FreeiD for seamless living experience from entrance to unit entry through Haseko's My IRM app.
• Shin-Nihon Power Supply Co., Ltd.majorChannel Partner/ Reseller/ Distributor · 14 May 2024Dealer contract for FreeiD sales targeting Chugoku region and nationwide through their strong developer network of condominium developers.
• Mitsubishi Estate Co., Ltd.flagshipStrategic or Co-development Partner · 23 April 2024Joint packaging and co-sales of FreeiD with Mitsubishi Estate's HOMETACT comprehensive smart home service, enabling seamless integration between in-home (HOMETACT) and external (FreeiD) living experiences. This partnership has resulted in multiple joint deployments including The Tower Hirakata, Fullea series, and The Parkhabio series developments.
• Yuasa Shoji GroupmajorChannel Partner/ Reseller/ Distributor · 18 April 2024Dealer agreements with Yuasa Shoji and Yuasa Cubis for FreeiD sales leveraging their domestic and international customer network, focusing on residential complexes and expanding to office/factory/logistics facilities.
• TB Eye Co., Ltd.strategicTechnology or Integration · 16 April 2024Partnership integrating FreeiD with TAS CUBE AI analytics device, enabling face authentication using existing security cameras (approximately 1 million+ cameras nationwide) through dealer agreement for expanded market reach.
• Marimo CorporationstrategicStrategic or Co-development Partner · 4 October 2023Standard adoption for all future Marimo condominium developments, including Connect Garden Hiroshima Gion with 124 units.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• NEC Corporation: Major Japanese technology conglomerate whose NeoFace facial recognition product is used by governments, airports, and large enterprises globally. Operates at much larger scale and R&D budget than Migalo and represents the dominant incumbent that FreeiD must displace or differentiate against in Japanese enterprise biometrics.
• Fujitsu Limited: Japanese IT services major offering PalmSecure palm vein biometric authentication deployed across banking, healthcare, and access control use cases globally. Broad incumbent in biometric authentication whose product portfolio competes in adjacent (non-face) modalities with FreeiD.
• SECOM Co., Ltd. Japan's largest security services company offering extensive access control, surveillance, and monitoring services for commercial and residential properties. Major incumbent in physical security/access control adjacent to Migalo's biometric access solutions.
• Haseko Corporation: Major Japanese real estate developer whose LIM Cloud residence management platform has integrated FreeiD for all-face-authentication apartments. Comparable as a large real estate + tech operator with active commercial partnership with Migalo, providing a real-world deployment reference for the platform.
• ALSOK (Sohgo Security Services): Second-largest Japanese security services company providing access control, surveillance, and manned security services. Broad incumbent competing in the same physical security/access control space as FreeiD for non-residential deployments.
• Daito Trust Construction: Japan's largest real estate developer focused on rental housing with significant technology integration for property management, access control, and tenant services. Comparable as a large-scale real estate operator pursuing a technology-enabled operating model, and a potential enterprise customer for biometric access at scale.

Emerging players

• PopID: US-based facial recognition payment startup offering biometric payment and access solutions for retail, restaurants, and venues. Emerging peer most relevant to Migalo's FreeiD Pay extension into commerce use cases - illustrates the cross-vertical opportunity and competitive risk for FreeiD's payment roadmap.

Direct peers

• GA Technologies: Japanese real estate technology company operating the Renosy platform with property search, online brokerage, AI-driven investment (RENOSY iQ), and a crowdfunding/investment product line. Directly comparable to Migalo's Property Agent DX real estate + Rimple crowdfunding business, sharing the same DX-focused real estate + fintech model in Japan.
• いえらぶ (Ielove): Japanese real estate SaaS platform providing CRM, listing, and operational tools for real estate agencies and property managers. Direct peer in Japanese real estate DX technology serving similar customers (real estate agencies, property managers) with comparable SaaS-style recurring revenue model.
• Japan Computer Vision (JCV): SoftBank-backed Japanese facial recognition platform providing biometric solutions for access control, payment, and identity verification across retail, real estate, and mobility. The most direct competitor to Migalo's FreeiD platform within Japan, with overlapping go-to-market in retail and property access.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/migalo_holdings
• YouTubeyoutube.com/channel/UC1234567890
• Facebookfacebook.com/Propertyagent.Official
• LinkedInlinkedin.com/company/migalo-holdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Migalo Holdings