Japan-based financial management tool provider Money Forward has raised ¥1.6bn ($13.2m) in a series C round that included conglomerate Mitsui & Co, Tech in Asia reported yesterday.
The round also featured financial services firms SBI Holdings, Shizuoka Bank, Yamaguchi Financial Group, Toho Bank and Mitsubishi UFJ Trust and Banking Corporation, and venture capital firm Fenox Venture Capital.
Money Forward offers a service to which users can link a variety of accounts in order to manage their finances through a single dashboard which can help them with analytics and estimates of future financial health.
The system, which can be accessed through a website or mobile app, has secured around 2.5 million users for its personal finance service, while the business-focused cloud accounting service has some 400,000 users and has attracted around 1,300 corporate clients, according to Money Forward CEO Yosuke Tsuji.
The company raised $12.5m in a December 2014 series B round featuring Mitsui Sumitomo Insurance Venture Capital and GMO Venture Partners, the corporate venturing subsidiaries of Mitsui Sumitomo Insurance and internet company GMO, software producer Sourcenext, marketing firm Dentsu, Credit Saison and Jafco.
Jafco had already supplied ¥500m of series A funding for Money Forward in 2013.