Japan-based asset management technology provider Moneytree has raised ¥1bn ($9m) in a series B round led by SBI Investment, the strategic investment unit for financial services provider SBI Group, The Bridge reported yesterday.
Salesforce Ventures, the corporate venturing arm of cloud computing firm Salesforce, also took part, as did Mizuho Capital, SMBC Venture Capital and Fukuoka Technology Partners, respective subsidiaries of financial services firms Mizuho Bank, Sumitomo Mitsui Banking Corporation and Fukuoka Financial Group.
The round also featured investment firm Senshu Ikeda Capital, venture capital firm Hiroshima Venture Capital and asset management firm Baillie Gifford.
Moneytree has developed a range of asset management apps, including one aimed at consumers that enables users to gain a comprehensive overview of their spending and income by directly integrating with financial institutions.
The company also offers an enterprise version that provides an insight into business accounts, and which includes features such as calculating expenses.
Moneytree will use the series C capital to support the addition of new features to its apps, and to expand and accelerate development of MT Link, its cloud-based account management product.
Salesforce Ventures led a series A round of undisclosed size for Moneytree in 2015, with participation from SMBC Venture Capital, Mizuho Capital and Mitsubishi UFJ Capital, the VC unit of financial services firm Bank of Tokyo-Mitsubishi UFJ.
DG Incubation, the investment arm of internet company Digital Garage, led Moneytree’s $1.6m seed round in 2013, participating alongside assorted angel investors. Moneytree is unrelated to the US-based consumer loans provider of the same name.