London-based Countingup secures €10.5 million to grow its business current account with built-in accounting software
Summary
Trusted by over 34,000 customers, the unique app automates the time-consuming aspects of bookkeeping and taxes and encourages good recordkeeping, making it easier to run a small business. Tim Fouracre, CEO and founder of Countingup, said: “We are delighted to have the backing of experienced investors on our journey to becoming the ultimate financial tool for the self-employed”, adding that “This funding round is helping fuel our product roadmap, including the launch of our digital tax filing service, which aims to be a huge help to small businesses as new Making Tax Digital regulations come into effect from April 2022.” Peter Misek, Founding Partner of Framework Venture Partners, said “Countingup is the one fintech out of the hundreds Framework has met that truly removes massive friction faced by entrepreneurs everyday. We believe Countingup can free the United Kingdom’s small business from this one inevitable fact of life and bring a little happiness back. After the year we’ve all had small businesses deserve Countingup!” Henry Alty, Investment Director at Gresham House Ventures, said: “Countingup has built a fantastically simple way of allowing small businesses to automatically handle their admin, and is led by Tim who has over a decade’s experience in doing just that. This fits perfectly with Gresham House’s focus on the automation of financial services for traditionally under-served SMEs, and delivers real social benefits by encouraging the growth of small businesses.
Funding
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