Moneytree bags USD1.6m in funding

Japanese expense tracker, Moneytree has pulled in USD1.6m in funding. DG Incubation led the round with participation from a group of angel investors. The Tokyo-based app offers users a platform to view all accounts and track expense. It notifies users the cost of credit card bill and low balances. Moneytree will use the new funding to support international expansion and the development of compatible platforms.

“We are at the beginning of a mobile-first era in money management,” said Paul Chapman, CEO and founder of Moneytree. “Moneytree believes that individuals should be at the core of the banking experience. We have created a personal finance app designed with a radically different approach. We leave behind concepts of accounting and rigid budgeting, and instead embrace ideas from the ‘quantified self’ movement. Think of Moneytree as a fitness tracking app for your money. It helps you quantify your cash usage, fine tune how you think about money and stay financially fit.”

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