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Japan’s leading robo-advisory startup WealthNavi gets $41M in funding and loans

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Tokyo-based WealthNavi, the company offering a technology-based asset management service under the same name, announced on Monday that it has secured 1.5 billion yen (approximately $13.5 million US) in funding from Mirai Creation Fund, Global Brain, Sony Innovation Fund, DBJ Capital, SMBC Venture Capital, and Mizuho Capital with 3 billion yen ($27.5 million US) in loans from multiple financial institutions. Mirai Creation Fund is a limited partnership backed by Toyota Motor and Sumitomo Mitsui Banking Corporation (SMBC) while DBJ Capital is the investment arm of Development Bank of Japan. The latest funding follows the company’s previous 1.5 billion yen (about $15 million at the exchange rate then) funding in a series B round back in October of 2016. This means the company has secured a total of about 6.7 billion yen (about $61 million) in funding and loans since the company’s launch back in April of 2015. The company says it will use the funds to strengthen management foundation, while enhancing and improving functions of their flagship robo-advisor platform WealthNavi as well as Mametasu, the latter a mobile app that lets users connect their credit cards or other mobile payments in Japan to automatically round up the change from every…

Image credit: WealthNavi

Tokyo-based WealthNavi, the company offering a technology-based asset management service under the same name, announced on Monday that it has secured 1.5 billion yen (approximately $13.5 million US) in funding from Mirai Creation Fund, Global Brain, Sony Innovation Fund, DBJ Capital, SMBC Venture Capital, and Mizuho Capital with 3 billion yen ($27.5 million US) in loans from multiple financial institutions.

Mirai Creation Fund is a limited partnership backed by Toyota Motor and Sumitomo Mitsui Banking Corporation (SMBC) while DBJ Capital is the investment arm of Development Bank of Japan.

The latest funding follows the company’s previous 1.5 billion yen (about $15 million at the exchange rate then) funding in a series B round back in October of 2016. This means the company has secured a total of about 6.7 billion yen (about $61 million) in funding and loans since the company’s launch back in April of 2015.

Mametasu
Image credit: WealthNavi

The company says it will use the funds to strengthen management foundation, while enhancing and improving functions of their flagship robo-advisor platform WealthNavi as well as Mametasu, the latter a mobile app that lets users connect their credit cards or other mobile payments in Japan to automatically round up the change from every purchase, adding to their investment portfolio.

In this space, we’ve seen other leading robo-advisory services like Money Design, Rakuten Securities and Monex-Saison-Vanguard in Japan, but WealthNavi is taking the lead among these competitors by gaining 70,000 account applications and keeping over 60 billion yen ($550 million US) in customer assets.

Edited by “Tex” Pomeroy

Japanese robo-advisory startup WealthNavi secures $15M series B from SBI, others

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Tokyo-based WealthNavi, the company offering a technology-based asset management service under the same name, announced on Wednesday that it has fundraised 1.5 billion yen (about $15 million) in a series B round. Participating companies in this round were SBI Holdings, SBI Investment, Mizuho Capital, SMBC Venture Capital, DBJ Capital, and Infinity Venture Partners. Additionally, the startup has partnered with SBI securities and Sumishin SBI Net Bank, both of which are subsidiaries of SBI Holdings, to offer the robo-advisory service to SBI’s 2.6 million online banking customers plus 3.6 million stock trading customers. This funding means that the company has fundraised a total of 2.1 billion yen (about $21 million) since the company’s launch back in April of 2015. WealthNavi offers a cloud-based robo-advisory service that helps middle-income people better locate diversified investments internationally. The service was officially launched in July this year. It is said that SBI Group has been massively helping regional banks and credit unions nationwide in Japan adopt FinTech services since they are typically small and have few resources to catch up with the new trend unlike typical megabanks. Through the partnership with the financial conglomerate, WealthNavi also expects to gain access to a huge base of…

wealthnavi_featuredimage
Image credit: Wealth Navi

Tokyo-based WealthNavi, the company offering a technology-based asset management service under the same name, announced on Wednesday that it has fundraised 1.5 billion yen (about $15 million) in a series B round. Participating companies in this round were SBI Holdings, SBI Investment, Mizuho Capital, SMBC Venture Capital, DBJ Capital, and Infinity Venture Partners.

Additionally, the startup has partnered with SBI securities and Sumishin SBI Net Bank, both of which are subsidiaries of SBI Holdings, to offer the robo-advisory service to SBI’s 2.6 million online banking customers plus 3.6 million stock trading customers. This funding means that the company has fundraised a total of 2.1 billion yen (about $21 million) since the company’s launch back in April of 2015.

WealthNavi offers a cloud-based robo-advisory service that helps middle-income people better locate diversified investments internationally. The service was officially launched in July this year.

It is said that SBI Group has been massively helping regional banks and credit unions nationwide in Japan adopt FinTech services since they are typically small and have few resources to catch up with the new trend unlike typical megabanks. Through the partnership with the financial conglomerate, WealthNavi also expects to gain access to a huge base of potential customers that these regional institutions possess.

Edited by “Tex” Pomeroy

rising-expo-2016-wealth-navi-pitch
In September, WealthNavi CEO Kazuhisa Shibayama delivered a pitch at the RisingExpo competition in Tokyo.