Moneytree, the Japanese startup offering an asset managing app and cloud-based accounting solutions, has announced an impressive haul in their latest fund raising round. So what is their next move?
The Tokyo based fintech snagged a total of 1 billion yen in their latest funding round. This round follows that of the company’s series A round held in October of 2015.
With the funds raised this time, Moneytree plans to roll out new functions for their personal asset management app Moneytree, their Moneytree Work Keihi Seisan (Expense Reimbursement) that allows users to easily determine their expenses, as well as their Moneytree Work Houjin Kouza (Corporate Accounts) that lets users browse their corporate accounts and calculate expenses in mobile.
International Interest Growing
The participation of British asset management company Baillie Gifford signals a significant step forward in Moneytree’s plans for overseas expansion.
This latest funding round was led by SBI Investment with participation from Mizuho Capital, SMBC Venture Capital, Sales Force Ventures, Fukuoka Technology Partners, Hiroshima Venture Capital, Senshu Ikeda Capital, and the UK’s leading asset management company Baillie Gifford.
Asian Regional Ambitions
In addition, the cloud-based account management service MT Link, which connects financial institutions with corporations and individuals, and has been in service for more than two years now, has been adopted by 20 companies including Japanese megabanks, regional banks, and accounting software industries.
Together with this funding, Moneytree has also renewed the MT Link website, and is aiming to further expand and accelerate the business.
«We are accelerating Moneytree’s growth to deliver seamless access to Japan’s financial services. In coming months, we will expand beyond the Japanese market and become a regional player,» said Paul Chapman Moneytree CEO.
