Japanese personal accounting startup Money Forward raises $12.6 million



This is the abridged version of our original article in Japanese.

Tokyo-based Money Forward, the startup behind the personal accounting app of the same name, announced today that it has raised 1.5 billion yen (about $12.6 million) from Japanese investment company Jafco, credit card company Credit Saison, packaged software developer Source Next, Mitsui Sumitomo Insurance Venture Capital, Dentsu Digital Holdings, and GMO Venture Partners. Details of the investment have not been disclosed. This follows their previous round fundraising $5 million from Jafco last year.

Money Forward provides online personal accounting for individuals, allowing them to easily manage their daily expenses by integrating with their bank passbooks and credit purchase history with information scraped from their web bank and credit accounts. The service is also available for desktop, as well as iOS and Android platforms.

Coinciding with the funds, the company announced that it will launch a payroll service in March 2015. This will be the third line-up for them, following a cloud-based tax-return and accounting solution and a cloud-based invoicing platform.