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Money Forward - Accounting made easy

Updated: Jan 2, 2021

Money Forward helps both businesses and individuals solve money issues.


Money Forward Cloud is a Software-as-a-Service (SaaS) for businesses, which automates and streamlines accounting and human resource operations by integrating data from various back-office related platforms and applications. Money Forward Home is a personal financial management service that is accessible to anyone, easy to use, and free of charge. The service automatically aggregates statements of bank accounts/credit cards/securities accounts/FX accounts/pensions/points and compiles a household accounting book.

CUSTOMER VALUE. Money Forward Cloud Accounting is cloud-based accounting software that simplifies complex account settlements. It drastically reduces work time and improves the efficiency of time-consuming accounting tasks by automating inputs and journal entries of transactions. The software is automatically updated in cases of tax law revisions or consumption tax hikes. Other services help businesses with invoicing, tax returns, payroll, and expense management. 

MARKET. Money Forward estimates that the addressable market stands around ¥1.9t, or $18b. That is a huge market opportunity with future growth drivers: preferential treatment for e-tax, new invoicing system introduction in 2023, and finally, revisions to the Electronic Book Maintenance Act that will allow linking of credit cards, e-money, and cloud accounting software. These factors will likely combine to accelerate the adoption of Cloud ERP.

MANAGEMENT. Money Forward was founded by Yosuke Tsuji in 2012 and benefits from a strong management team and board. Five out of the 12-person board are external directors including Toshiba’s current CEO, Nobuaki Kurumatani, and Masaaki Tanaka the current President of Nippon Paint (34 years of banking experience).

OUTLOOK. The structural shift to digitalization favors Money Forward, as does the significant addressable market as SMEs seek timely and more efficient Accounting/ERP solutions.


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