Money Design cashes in on series C extension

Mar 1, 2017 • Thierry Heles

The round has closed at $13.4m following an extension provided by Fenox Venture Capital, which has joined existing backers such as Nihon Kotsu, Recruit and Kyoto Bank.

Japan-based online asset manager Money Design has closed a $13.4m series C round following an extension provided by VC firm Fenox Venture Capital, Tech in Asia reported on Monday.

Money Design raised a first tranche in November 2016 from investors including taxi and limousine services provider Nihon Kotsu, human resources firm Recruit Holdings and financial services provider Kyoto Bank.

Founded in 2013, Money Design has developed a robo-adviser dubbed Theo. The artificial intelligence-powered adviser is accessed through a smartphone…

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