Japanese robo-adviser Folio Holdings is looking to go public as the SBI Holdings-backed startup zeros in on profitability in a market primed for expansion, Chief Executive Officer Shinichiro Kai said in an interview.
Kai said he expects the Tokyo-based firm to become profitable and launch an initial public offering "in the not-so-distant future.” Japan’s robo-adviser market, estimated to be worth around ¥3 trillion ($19.8 billion), has massive room for growth, he added.
With more than half of Japanese households’ $14.1 trillion savings still stashed in cash and deposits, "There’s great potential that some of that money will shift to fund wraps and robo-advisers.”
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