Japanese personal finance app Moneytree raises $1.5 million

Japanese personal finance app Moneytree raises $1.5 million

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See the original story in Japanese.

Tokyo-based Moneytree, a startup that provides a personal finance app, announced yesterday it that has raised 150 million yen ($1.5 million) from DG Incubation and other investors [1].

Users can register back accounts and credit accounts, and the app lets you aggregate up-to-date balances and expenses, browsing them in a single view. The app was launched back in April and quickly reached 130,000 downloads by August. Coinciding with the funding, the company also announced that it has surpassed 200,000 downloads. Looking at similar apps such as ReceReco and Zaim which both recently passes 1 million downloads, the Moneytree app still has much room to grow.

With the funds raised this time around, the company is planning to integrate with more banks or financial institutions so that their users will be also able to use the app to check their balances. Upcoming plans also include adding new features, introducing a desktop and iPad version, and developing a new platform.

We will follow up with an interview to hear more about what they have planned, so stay tuned.

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  1. DG Incubation is the incubation arm of Japanese web conglomerate Digital Garage.