Money Forward makes Biz Forward wholly owned susidiary, MUFG divests
Money Forward has decided to make Biz Forward, which develops online factoring services and billing agency services for small and medium-sized enterprises, a wholly owned subsidiary.
The Money Forward Group provides financial services such as inter-company payment and billing agency services through Money Forward Kessai and Biz Forward. As part of its SaaS × Fintech strategy, Money Forward provides inter-company payment and billing agency services that have high integration with its back-office SaaS "Money Forward Cloud," aiming to streamline complex back-office operations and support users in focusing on their business.
Through the decision to make Biz Forward a 100% group company, and the subsequent business integration with Money Forward Kessai, and unification of service brands, Money Forward will improve operational efficiency and further accelerate its SaaS × Fintech strategy.
Previous Initiatives
Biz Forward was established as a joint venture between Money Forward, MUFG Bank, and Mitsubishi UFJ Factor, and began operations in 2021. In less than two years since launching services in November 2021, it surpassed a cumulative transaction volume of 10 billion yen, providing support to many companies facing increased demand for "cash flow improvement" and "digitalization and efficiency of billing operations" due to the impact of COVID-19 and the implementation of the invoice system. Additionally, by utilizing accounts receivable and billing data from "Money Forward Cloud" to execute online factoring, the partners have built a system that allows "Money Forward Cloud" users to smoothly secure funding. Integration with "Money Forward Cloud" has increased application numbers and expanded service usage.
Future Plans
The services previously provided by Biz Forward—"SHIKIN+," "SEIKYU+ powered by Biz Forward," and "Biz Forward Invoice Card Payment powered by Money Forward Kessai"—will be integrated with services provided by Money Forward Kessai around autumn 2025, unifying the service brands in the finance area. Money Forward also plans to integrate service sales and marketing functions into Money Forward to improve operational efficiency.
Even after Biz Forward becomes a 100% group company, financial support from MUFG Bank and sales cooperation from Mitsubishi UFJ Factor are expected to continue. Money Forward will continue to strengthen its partnership with the Mitsubishi UFJ Financial Group to expand services in the finance sector.
Going forward, Money Forward will realize Embedded Finance by incorporating financial services into SaaS, and further strengthen synergies with SaaS businesses by providing seamless financial services through SaaS.
Service Brand Integration
- Small and Medium Enterprise Online Factoring Service
- Current service name: "SHIKIN+"
- After change: "Money Forward Early Payment"
- Cloud-based B2B Billing Agency Service
- Current service name: "SEIKYU+ powered by Biz Forward"
- After change: "SEIKYU+ powered by Money Forward Kessai"
- Invoice Card Payment Service
- Current service name: "Biz Forward Invoice Card Payment powered by Money Forward Kessai"
- After change: "Money Forward Invoice Card Payment"
