I’ve written about Japanese personal finance app Zaim in the past, which I’ve been a fan of for quite some time. And now that it has OCR functions to read receipts it’s really a must have if you live in Japan.

But as we recently pointed out, Japan has a wide range of startups that offer financial solutions. And one app that is a direct competitor of Zaim is ReceReco. Initially launched back on January 31, this app was developed by Tokyo-based data-mining company Brain Pad, and its name is a sort of mish-mash of the words ‘receipt recording’, which exactly describes its function: recording your personal purchases by snapping a picture of your receipt with your smartphone camera.

According to IT Media, the company had previously set a target of 500,000 downloads for its first year. It has reached that goal in just three and a half months, and are now hoping for a million before the year is through.

BrainPad is also planning to release an Android app, as well as add more service integrations so you can share your recorded financial data to more destinations. So far it features Facebook and Evernote integration, as well as CSV export. Unlike Zaim, however, ReceReco is only available in Japanese.

If you’d like to learn more about how ReceReco works, check out the demo video below (in Japanese). [Via IT Media]