Japan-based online accountancy service Money Forward has secured ¥1.5bn ($12.5m) from a series B round backed by several corporates, according to Tech in Asia.
Mitsui Sumitomo Insurance Venture Capital, the corporate venturing unit of Mitsui Sumitomo Insurance, GMO Venture Partners, which fulfils the same function for internet company GMO, software producer Sourcenext and marketing firm Dentsu joined Credit Saison, an affiliate of financial services firm Mizuho Financial Group, and investment firm Jafco in the round.
Money Forward, which began life as a personal finance app, provides an accounting service that has expanded to incorporate tax return and invoicing, and which will soon include online payment support. Jafco invested ¥500m for its series A round in October 2013.
The company has already forged partnerships with internet services provider Yahoo Japan and news curation site Gunosy, and plans to do the same with its new backers.