WealthNavi accumulates $15m in series B round

Oct 19, 2016 • Robert Lavine

Subsidiaries of SBI Holdings, Mizuho Bank, Development Bank of Japan and Sumitomo Mitsui Financial Group took part in the robo advisor developer's latest round.

Japan-based online wealth management platform WealthNavi has received ¥1.5bn ($14.5m) in series B funding from backers including several financial services firms, The Bridge has reported.

SBI Holdings invested alongside its SBI Investment unit, while Mizuho Bank, Development Bank of Japan and Sumitomo Mitsui Financial Group took part through subsidiaries Mizuho Capital, DBJ Capital and SMBC Venture Capital. Investment firm Infinity Venture Partners also participated in the round.

Founded in April 2015, WealthNavi has developed a cloud-based robo advisory platform that…

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