Money Forward looks globally with $11m round


Money Forward has raised $11m in a Series D round led by Isetan Mitsukoshi Holdings and Mizuho Capital’s fintech fund.

The Japanese company provides financial management and accounting software for households and small businesses.

The round also saw participation from existing backers Fenox Venture Capital and Toho Bank.

Gunma Bank, Fukui Bank, North Pacific Bank and Shiga Bank also contributed to the haul.

While the round is smaller than the $13.3m Money Forward raised last year it says it’s valuation increased between funding round.

The company claims more than 4m individual users and 500,000 businesses in Japan and says the capital will be used to expand internationally.

The round brings the total raised by Money Forward to just shy of $42m.

Copyright © 2016 FINTECH GLOBAL

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