Challenger bank with integrated accounting service goes from beta to launch
by Startacus Admin
Challenger bank, Countingup, a UK business current account with integrated accounting and tax 
software, goes from from beta to official launch.
Challenger Bank Countingup offers accounting and banking in one place for sole traders, freelancers and small businesses. Created in September 2017 by Tim Fouracre, Countingup is VC backed startup who have worked with more than 1,000 small businesses during the beta phase to help provide feedback and to helping shape the product and its future roadmap.
Via Countingup Sole traders, freelancers and small limited companies can get an account, which automatically does the bookkeeping. Additional accounting and tax features will be rolled out over the coming months. Businesses can get started with a current account for free while the combined business current account and accounting product will be available to the self-employed for £9.95 per month.
Chartered Accountant Tim Fouracre, who previously founded cloud accounting software company Clear Books plc and was their CEO for nine years, said:
“An accounting system reveals what’s going on behind bank transactions - but small business owners only tend to 
see this analysis when they find time to do the books. This can be months later, or at the end of the tax year in a mad rush before the self-assessment deadline. Many opportunities to gain valuable and actionable insight in real time are lost. This could be the difference between success and failure for a small business.”
A Countingup current account can be opened on a smartphone in five minutes, with just a photo and passport or driving licence. The account comes free with a UK account number and sort code and contactless Countingup Mastercard. Customers who choose to use the banking service without the accounting features can do so for free if monthly deposits are below £750, with a small charge of £2.95 per month if they are above.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Got a business in the manufacturing sector? These tips on how you can reduce energy costs while being more sustainable are well worth a read...
 Daniel Dierkes, David Schara, and Maximilian Geißinger 2.jpeg)
Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
Nassia Skoulikariti, Director of IoT Programmes, Mobile Ecosystem Forum shares some insights on how IoT is having a significant impact on all our lives.
.jpg)
Roger James Hamilton, Founder and CEO of Genius Group, a world-leading entrepreneur Edtech and education group, discusses how introducing a globalized curriculum will help better prepare students.
SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.
Thingtrax Secures £4.3M to Empower Manufacturers to Build the Factories of the Future
A measure of inflation relief for small firms sees transport costs fall but service price increases remain elevated
Bedfordshire-based HR tech startup HR DataHub has built a range of tools for HR departments
Published on: 9th April 2018
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- SureIn Secures €4M to Close the SMB Insurance Gap 15th Aug 2023 Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
- SuperFi raises $1M pre-seed funding round 28th Jul 2023 SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
- Startups rely on AI & sustainability for new partnerships 27th Jul 2023 41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
- Another Round closes £300k Seed round to revolutionise personal training 21st Jul 2023 Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.
