Oct 17, 2013

[The Bridge] Japanese personal finance app Moneytree raises $1.5 million

Tokyo-based Moneytree, a startup that provides a personal finance app, announced yesterday it that has raised 150 million yen ($1.5 million) from DG Incubation and other investors. 
Users can register bank accounts and credit accounts, and the app lets you aggregate up-to-date balances and expenses, browsing them in a single view. The app was launched back in April and quickly reached 130,000 downloads by August. Coinciding with the funding, the company also announced that it has surpassed 200,000 downloads. Looking at similar apps such as ReceReco and Zaim which both recently passes 1 million downloads, the Moneytree app still has much room to grow. ...
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The Bridge 10/16/2013 [en]

memo
  • Diffrent from Zaim or ReceReco, account aggregation services like Moneytree have higher barrier for users to start using. It may be not easy to have 1 million users but on the other hand, after registering accounts, users do not need to do anything but watch the app. So, maintaining users is much easier. Anyway, the key for success is how these apps can make money with users and their financial information. We may be able to see how Moneytree will monetize in the future.
  • https://moneytree.jp/

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