Tokyo-based WealthNavi raises $37.6m in Series D round

Tokyo-based WealthNavi, provider of Japan’s biggest financial robo-adviser service, has secured 4.1 billion yen ($37.6 million) in its Series D funding round backed by a fund launched by Sony Financial Ventures and Global Brain, according to an announcement.

Other investors including UTokyo Innovation Platform, SMBC Venture Capital, Mizuho Bank, Opt Ventures, and Resona Capital also participated in the funding round that brings the total funding into WealthNavi to over $130 million, the company said.

Established in 2015 by Kazuhisa Shibayama, WealthNavi offers a platform for asset managers to provide advice using risk management algorithm. The company has opened 240,000 accounts with assets under management of 180 billion yen ($1.6 billion).

WealthNavi said it will use the proceeds from the latest fundraising to further develop and strengthen its robo-adviser and asset management application. It will also allocate funds for marketing and management expansion.

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Source: Tokyo-based WealthNavi raises $37.6m in Series D round