November 2026
Largest PropTech Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Tasuki Holdings, GA Technologies, Lifull, Rakumachi and Creal.
 | Tasuki Holdings Inc is a company which has Business formulation and management of group companies engaged in Life Platform Business includes Planning and sales of IoT residential properties Purchasing and sales of refining properties, Planning and sales of logistics facilities, etc. Asset consulting for real estate owners Real estate crowdfunding, formation and management of real estate fun, SaaS Business: Development and sales of DX products for the real estate industry, Finance Consulting Business: Providing real estate secured loans. | $7 | +51% | $415M | $720M | 1.5x | 12.7x | ||
| GAtechnologies Co Ltd is a Japan based company engaged in development and operation of real estate transaction platform. The company is also engaged in the development and management of application for real estate owners and provides crowdfunding service for second-hand divided apartments. | $9 | -30% | $388M | $459M | 0.3x | 5.6x | ||
| Lifull Co Ltd is a Japanese technology company. Its lines of business are domestic real estate information services, services for domestic real estate companies, aggregation of real estate information, portal services, and other services. Its major subsidiaries are Renters Co., Trovit Search, Lifull Marketing Partners, and Lifull Co. | $2 | +50% | $203M | $191M | 1.1x | 5.8x | ||
| Rakumachi Inc Formerly Firstlogic Inc operates real estate investment portal site. The Company offers services to professional, learner of real estate investment, people looking for real estate and the sale of real estate. | $6 | -16% | $116M | $112M | 4.9x | 9.1x | ||
| CREAL is a real-estate financial technology company founded in 2011 and based in Japan. CREAL operates an asset management platform that leverages DX to deliver self-structured investment products to a broad range of investors. CREAL is core growth driver, aiming to democratize real estate investment. The company serves business and institutional customers and individual consumers through products and services in the real-estate financial technology market. Its commercial model is built primarily on transaction commissions and investment-management fees, reflecting the way customers obtain and use its offering. JIC Venture Growth Investments classifies the business in its After Market portfolio and records December 2025 for the company. The company maintains its operating website at corp.creal.jp, while JIC VGI's portfolio materials preserve the public record of the investment relationship. | $3 | -48% | $96M | $73M | 0.3x | 4.1x | ||
| Akippa Inc is engaged in the development and operation of 'Akippa', an online parking reservation marketplace. | $7 | -- | $44M | $40M | 1.7x | 30.4x | ||
| MFS is a real-estate financial technology company founded in 2009 and based in Japan. MFS developed core online service "Mogecheck" to support new mortgage loan applications and refinancing by providing customers with information on optimal mortgage products (interest rates, supplementary insurance conditions, and loan approval rates), free of charge. Company strength is mortgage finance and analytics know-how and expertise. The company serves business and institutional customers and individual consumers through products and services in the real-estate financial technology market. Its commercial model is built primarily on transaction commissions and investment-management fees, reflecting the way customers obtain and use its offering. JIC Venture Growth Investments classifies the business in its IPO portfolio and records March 2021 for the company. The company maintains its operating website at www.mortgagefss.jp, while JIC VGI's portfolio materials preserve the public record of the investment relationship. | $2 | -5% | $18M | $12M | 0.2x | 7.6x | ||
| Rebase Inc is engaged in the development and operation of the online marketplace Instabase, a platform for matching open rooms to users who can rent them either on an hourly or daily basis, as well as other related businesses. It is a matching service offering that allows customers to make reservations online from their computer or smartphone. Instabase offers a wide variety of spaces, including conference rooms, telework spaces, old houses, photography studios, and dance studios, depending on the usage scenario. In addition, the space can be used for business purposes such as meetings, business negotiations, seminars, training, and study sessions, as well as yoga and dance lessons, photography, home activities, and more. | $3 | -45% | $13M | $8M | 0.6x | 8.5x | ||
| Median | $4 | -16% | $106M | $92M | 0.8x | 8.0x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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