Tokyo-based Folio, the Japanese startup offering an online asset management platform, announced today that it has raised 7 billion yen (about $63 million US) in a series A2 round. Participating investors are Line, Goldman Sachs, Dentsu Ventures, Mitsui & Co., SMBC Venture Capital, DCM Ventures and Draper Nexus Ventures. With previous funds in a seed round and a series A round conducted last year, the company has raised a total of 9.1 billion yen (about $82 million US) since its launch.
Apart from the funding, Folio has partnered with messaging giant Line to give access to the startup’s investment services for the massive user base of 71 million monthly active users in Japan on the the latter’s messaging platform. Foilo also says it will launch an in-house R&D department focused on developing services leveraging Machine Learning, Distributed Ledger Technology (DLT for short, also known as blockchain) and other emerging technologies.
Edited by “Tex” Pomeroy