Accounting Application, CFO Raises 50M Yen From DCM / TechCrunch Japan

CFO, which pitched freee, accounting application for small businesses, at Startup Battle of TechCrunch Tokyo in this November raises 50 million yen from Silicon Valley based venture capital, DCM. It is the first fundraising from an external investor for CFO.

freee is still beta version open to only some users, but the company is developing it aiming to officially launch early next year. With the fundraising, it intends to speed up the development by hiring.

The cloud application has advantage in importing data in bank and credit card accounts to automatically journal them. ...

TechCrunch Japan 12/19/2012 [jp]

memo

• CFO was founded in July 2012. It is not so usual that an enterprise application startup succeeds to raise fund of 50 million yen before officially launching products. DCM may highly evaluate the beta product as well as the founder team.
• http://www.c-fo.com/