Moneytree, a Tokyo, Japan-based provider of a personal finance management app, completed a $9m Series B funding.
The round was led by SBI Investment Co., Ltd., with participation from Fukuoka Technology Partners Co., Ltd., Hiroshima Venture Capital Co., Ltd., Senshu Ikeda Capital Company Ltd., Baillie Gifford & Co., Mizuho Capital Co., Ltd., SMBC Venture Capital Co., Ltd., and salesforce.com, inc.
The company intends to use the funds to add functionality to its app, invest in deepening the capabilities of its Moneytree LINK platform that connects financial institutions and customers through a permission-based data-sharing platform, enter the Australian market within the coming months, and increase employees across the organization, including Development, Platform, Sales, Marketing and back office.
Led by CEO Paul Chapman, Moneytree provides a mobile app, which allows users to manage their bank accounts, credit cards, electronic money, mileage, points, and securities all together in one place on mobile and desktop.
In 2015, the company launched Moneytree LINK, a service that connects financial institutions and customers through a permission-based data sharing platform to create value in the fields of accounting, finance, real estate rent management, automobile maintenance, expense settlements, invoice issuance, and asset management.