Japan: Moneytree closes $8.9m round led by SBI Investment

Visual of Moneytree homepage. March 2017.

Tokyo-based Moneytree, which offers an asset management app, announced on Tuesday that it has raised 1 billion yen ($8.9 million ) in its latest funding round led by SBI Investment.

Other investors participating in this round were Mizuho Capital, SMBC Venture Capital, Salesforce Ventures, Fukuoka Technology Partners, Hiroshima Venture Capital, Senshu Ikeda Capital, and UK’s asset management firm Baillie Gifford. 

The latest investment reflects growing interest in fintech among Japanese institutions.

The mobile app connects to users’ bank accounts and credit cards, permitting real-time tracking of money flows and notifying users of large transactions, low balances, soon-to-expire loyalty points and miles, and upcoming bills.

Moneytree’s founder and CEO Paul Chapman commented: “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.”

moneytree-aggregates
Source: Slideshare of Moneytree CTO, Ross Sharrott

Moneytree’s previous funding round was a Series A financing in October 2015 led by Salesforce Ventures with participation from VC arms of Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ, and Sumitomo Mitsui Banking Corporation.

Data compiled by Crunchbase puts publicly disclosed equity funding raised by Moneytree at $10.48 million as at March 2017.

According to Moneytree, proceeds from this round of investment will see them add new features to their personal asset management app. 

Additionally, it will be expanding its cloud-based account management service, MT Link, which connects financial institutions with corporations and individuals. To date, this service has been adopted by 20 companies that include big banks, regional banks, and accounting software industries.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.