What RACCOON HOLDINGS does

Raccoon Holdings (株式会社ラクーンホールディングス, TSE Prime: 3031) is a Tokyo-based holding company that operates a dual-segment B2B infrastructure business combining an e-commerce marketplace platform with integrated financial services. The EC segment is anchored by SUPER DELIVERY, a domestic B2B wholesale marketplace serving approximately 460,000+ retail stores and 3,200+ exhibitor manufacturers across apparel, household goods, furniture, electronics, and food categories, with a catalog exceeding 2 million product listings. The company extends this marketplace internationally through SD export, an all-in-one cross-border B2B EC service covering matching, ordering, payment, trade documentation, customs, and logistics for Japanese manufacturers selling to buyers in 134 countries. A physical SD Taiwan Showroom opened in Taipei in January 2026 to support cross-border buyer engagement.

The Financial Services segment, operated through wholly-owned subsidiary Raccoon Financial, consists of Paid (企業間決済 Paid) and URIHO (売掛保証 URIHO). Paid is a B2B deferred payment service that handles credit management, invoice issuance, and collection on behalf of clients, and claims the #1 market share position in Japan by number of subscribing companies, with 600,000+ registered member companies. URIHO is an industry-first subscription-based accounts receivable guarantee service offering unlimited guarantee claims within plan limits, with three monthly subscription tiers (¥9,800 / ¥29,800 / ¥99,800) and a new entry-level tier, URIHOmini. Both services are powered by an in-house AI credit assessment model (与信モデル) trained on accumulated B2B transaction data, conducting over 100,000 credit reviews annually to underwrite SMEs and sole proprietors typically underserved by traditional financial institutions.

Raccoon Holdings generated approximately ¥42.7 billion in 2025 revenue across these two segments, with EBITDA of approximately ¥9.8 billion and net income of approximately ¥5.85 billion, following a 2024 trough year. The company employs approximately 437 staff and is led by founder and Representative Director Isao Ogata, who holds approximately 20.57% of shares. Distribution is multi-channel: self-serve B2B platforms (SUPER DELIVERY, SD export, Paid, URIHO), a growing regional bank referral channel (Tohoku Bank, Yamanashi Chuo Bank), and direct enterprise engagement. In November 2025, the company raised approximately ¥5 billion via a third-party share allocation to fund M&A and advertising, and introduced a progressive dividend policy of ¥22/share minimum through FY2029.

Name

RACCOON HOLDINGS

Legal name

株式会社ラクーンホールディングス

Website

https://raccoon.ne.jp

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

Raccoon Holdings operates Japan's leading B2B e-commerce marketplace (SUPER DELIVERY) serving 460,000+ retailers and cross-border SD export to 134 countries, integrated with B2B financial services (Paid, the #1 Japan B2B deferred payment service with 600,000+ members, and URIHO subscription receivables guarantee), targeting Japanese SMEs and manufacturers.

Ownership category

akta.pro rank

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. SUPER DELIVERY / SD export Commission Revenue: B2B wholesale marketplace earns commissions/transaction fees from domestic and cross-border wholesale transactions between manufacturers and retailers. Domestic platform covers apparel, household goods, furniture, electronics, food, and other categories. Cross-border SD export covers 134 countries with integrated export logistics, customs, and settlement.
2. URIHO Subscription Revenue: Subscription-based accounts receivable guarantee service with monthly fees ranging from ¥9,800 to ¥99,800 depending on coverage tier. Guarantees payment if trading partners default due to deteriorating business conditions or bankruptcy. Industry-first unlimited guarantee claims within the plan's coverage limit.
3. Paid Transaction Fee Revenue: B2B deferred payment service charges transaction fees on settled invoice amounts. Handles credit management, invoice issuance, and collection on behalf of business clients. Service claims #1 market share by number of subscribing companies in Japan.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels11 records

Core offering

RACCOON HOLDINGS operates Japan's pioneer B2B e-commerce marketplace (SUPER DELIVERY) connecting 3,200+ domestic manufacturers with 460,000+ registered retailers across apparel, household goods, furniture, electronics, and food categories, plus SD export cross-border B2B EC reaching 134 countries. The company also runs a financial services arm offering Paid (Japan's #1 corporate post-payment settlement service with 600,000+ members) and URIHO (industry-first subscription-based unlimited accounts receivable guarantee), creating an integrated EC-plus-finance infrastructure for B2B transactions.

Product overview

RACCOON HOLDINGS operates a dual-segment business structure comprising EC (e-commerce) and Financial services. The EC segment centers on SUPER DELIVERY, a BtoB wholesale marketplace serving 460,000+ registered retailers, complemented by SD export for cross-border BtoB transactions spanning 134 countries. The Financial segment provides Paid, Japan's leading corporate post-payment settlement service with 600,000+ member companies, and URIHO, the industry's first subscription-based accounts receivable guarantee service. Supporting tools include COREC (order management), SD FACTORY (manufacturing matching), and newer offerings URIHOmini and BizCheck (credit screening).

Differentiator

Problem solved

Functional benefit

Brands

• SUPER DELIVERY: 国内メーカーと小売店・事業者が取引するBtoB卸・仕入れマーケットプレイス
• SD export
• Paid
• URIHO
• COREC
• SD Factory

Products and services

• SUPER DELIVERY Domestic B2B wholesale marketplace connecting Japanese manufacturers with retailers, wholesalers, and service businesses for procurement of apparel, household goods, furniture, electronics, and food. Approximately 2 million product listings, 3,200+ exhibitor manufacturers, and 460,000+ registered retail stores. Covers wholesale orders, payment, and settlement between domestic manufacturers and buyers.
• SD export Cross-border B2B e-commerce service enabling Japanese manufacturers to sell to wholesale buyers in 134 countries. All-in-one platform handling matching, ordering, payment settlement, trade documentation, customs, and logistics; approximately 860,000 international product listings.
• Paid B2B post-payment settlement service that handles credit management, invoice issuance, and collection on behalf of subscribing companies. Holds #1 market share in Japan by number of subscribing companies with 600,000+ registered member companies; ISO/IEC 27001 ISMS certified.
• URIHO Subscription-based accounts receivable guarantee service covering unpaid amounts due to trading partner deterioration or bankruptcy. Industry-first "fixed-rate unlimited guarantee" model with fully automated online application, credit screening, and claim processing. Three published monthly tiers: ¥9,800, ¥29,800, and ¥99,800.
• COREC Cloud-based order and procurement management system that consolidates order processing and purchasing workflows for B2B operators, enabling centralized control of receiving and placing orders.
• SD FACTORY Matching platform connecting apparel manufacturers with buyers seeking production capabilities, particularly for custom manufacturing and sewing factory partnerships.
• URIHOmini Entry-level tier of the URIHO accounts receivable guarantee service, designed to expand receivables guarantee coverage to new customer segments such as small businesses and sole proprietors with simplified onboarding.
• BizCheck Credit screening and assessment service launched alongside URIHOmini, providing comprehensive credit evaluation capabilities for small and medium enterprises to assess counterparty risk in B2B transactions.
• SDダイレクト SME manufacturer order DX support service helping small and medium manufacturers digitize and streamline their order management and procurement processes. Operated by Raccoon Commerce.

Quantifiable outcome

• Paid B2B payment service: #1 market share in Japan by number of subscribing companies (導入企業数No.1)
• +5 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Scale indicators10 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Faire: Wholesale marketplace connecting independent retailers with brands across apparel, home, and lifestyle categories. Closely comparable to SUPER DELIVERY in targeting SMB retailers and brand manufacturers, with similar marketplace-commission revenue model and recent fintech extensions.
• Brex: US B2B financial platform offering corporate cards, payments, bill pay, and treasury for startups to mid-market. Comparable to the Paid + URIHO combination on SMB-focused B2B payment and credit decisioning, though Brex is card-led rather than receivables-led.
• Infomart: Japanese B2B e-commerce and EDI platform, particularly strong in food service. Operates a B2B platform model comparable to Raccoon Commerce's SUPER DELIVERY, with a domestic Japan focus and overlapping SME customer base.
• Alibaba.com: Global B2B wholesale marketplace connecting manufacturers with buyers across categories. Directly comparable to SUPER DELIVERY as a generalist B2B marketplace operator with cross-border reach, though Alibaba operates at vastly larger scale.
• Bill.com: US-listed B2B accounts payable/receivable and payments automation platform serving SMBs and mid-market. Most direct analog to Raccoon's Paid service in automating B2B invoice management, credit assessment, and collections for businesses.
• Tradeshift: Global B2B marketplace and financial services platform combining supplier discovery with payments and trade finance. Closely mirrors Raccoon's combined SUPER DELIVERY marketplace plus Paid/URIHO financial services architecture.

Broad incumbents

• Amazon Business: Amazon's B2B procurement marketplace serving enterprises and SMBs. A broad incumbent overlapping with SUPER DELIVERY on general merchandise B2B commerce, though Amazon Business operates as one arm of a much larger e-commerce conglomerate rather than a dedicated B2B specialist.

Emerging players

• Sansan: Japanese B2B SaaS provider of business card contact database and contract management (Eight, Bill One). Adjacent peer sharing Raccoon's Japanese B2B software DNA, with a different vertical focus (contacts/contracts vs. marketplace/payments).
• Money Forward: Japanese SaaS fintech offering accounting, payroll, and B2B financial workflow tools for SMBs. Broader fintech ecosystem peer sharing the same Japanese SME customer base as Paid and URIHO, with overlapping product concepts in B2B payment automation.

Others

• Mirakl: Enterprise marketplace platform provider enabling retailers and B2B operators to launch their own third-party marketplaces. Adjacent infrastructure peer rather than direct competitor — Raccoon's marketplace platform is internally built, but Mirakl represents an alternative go-to-market model in the same B2B marketplace category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 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 RACCOON HOLDINGS