Sumitomo Mitsui Financial Group, an investor since late 2014, exited invoicing software company Misoca through a purchase by Yayoi.

Financial services firm Sumitomo Mitsui Financial Group (SMFG) is set to exit Japan-based invoicing software developer Misoca through a ¥1bn ($8.9m) acquisition by accounting software producer Yayoi, The Bridge has reported.

Misoca’s software lets users to edit and manage financial estimates, invoices and statements, and has accumulated 58,000 corporate users since it was launched in 2011. It has raised ¥120m ($1.1m) in venture funding.

SMBC Venture Capital, which acts as SMFG’s venture capital unit, has held a stake in Misoca,…