See the original story in Japanese.
Yayoi, a Japanese major accounting software developer and a subsidiary of leading Japanese financial services company Orix (TSE:8591), is reportedly to acquire a whole stake in Japanese cloud-based invoicing startup Misoca for 1 billion yen ($8.9 million).
The deal may be completed in this month. While Misoca has been offering participial integration with Yayoi’s cloud-based accounting platform since November 2014, the acquisition will accelerate the mutual integration between Misoca’s invoicing platform and Yayoi’s accounting software solutions.
The Misoca platform lets a user edit and manage estimates, invoices, statements of delivery using a handy dashboard. A user can even ask the startup to print and mail these items to clients on the user’s behalf. Since their launch in June 2011, Misoca has acquired more than 58,000 corporate users.
Previously known as Standfirm, Misoca secured a 30 million yen ($300,000) seed funding from Incubated Fund in September 2013, followed by securing a 70 million yen ($653,000) funding from SMBC Venture Capital and Incubate Fund in October 2014. In the latest funding round in May 2015, the company fundraised 20 million yen ($178,000) from several angel investors.
Translated by Masaru Ikeda
Edited by Kurt Hanson