MoneyForward is an app allowing users to link a breadth of 3rd party accounts, from bank accounts, credit cards and securities. They’re then presented with an analytics dashboard showing the health of their current finances and most interesting, a trajectory of their future finances.
How they’re disrupting
MoneyForward has 2.5 million users on their personal finance product and also 400,000 on their enterprise-oriented cloud accounting side (across 16,000 corporates). Both elements contribute almost equally to the startup’s revenue.
With Asia getting richer and the growth in SMEs and the middle class, MoneyForward is well placed to help a vast market better manage their finances.
Investments and future
MoneyForward have raised over $30m to date, most recently a $13.3 million (JPY 1.6 billion) series C round. With continuous recruitment and product innovation, they’ve most recently rolled out a cloud-based payroll service for small and medium-sized enterprises.