Moneytree, a Japanese mobile financial technology startup, raised US$1.6m (¥150M) in seed funding.
The round was led by DG Incubation, the investment subsidiary of Japanese tech company Digital Garage, with participation from senior executives from PayPal, MasterCard, and Morgan Stanley.
Led by Paul Chapman, CEO and founder, Moneytree provides consumers with a mobile platform to track and manage money, and businesses with a market analytics service (to be announced in the first half of 2014), offering insights into consumer behavior including share of wallet, market share and competitor benchmarking across a wide range of industries.
– Automated data categorization,
– Real-time tracking and intelligent notifications,
– Prevention of credit card bill shock,
– Scalable cloud infrastructure, and
– Security and privacy protection.
Moneytree is currently available for iPhone and iPad, compatible with both iOS6 and iOS7. An iPad HD version and responsive web app are planned for launch in 2014.
It now supports over 80% of Japanese financial institutions by market share, and over 1,000 institutions will be supported by 2014.