Countingup raises £4m to accelerate banking and accounting roadmap
by Startacus Admin
.png "Countingup banking and accounting")
Countingup, the business current account that automates your accounting, has received the backing of leading fintech investors.
The London-based startup has raised £4m in a bridge round of financing led by ING Ventures with co-investment from Triple Point, CVentures and BiG Start Ventures. All are backing the company’s vision to be the one financial hub for 1m small businesses. In the two years since Countingup launched, it now boasts more than twenty thousand customers and has processed almost £1bn in transactions.
Small businesses can open a Countingup business current account on their smartphone in under 5 minutes and the account comes with both banking and accounting features. On top of that, Countingup has recently launched its Accountant Hub, a web-based accounting system that helps accountants manage and
collaborate with their SME clients.
Countingup started in September 2017 by CEO, Tim Fouracre, Countingup is a VC backed startup aiming to build the one financial hub for 1m small businesses.
Founder and CEO, Tim Fouracre, commented, “Countingup is a more automated and accurate alternative to traditional digital bookkeeping software or a shoebox of invoices and receipts. It’s ideal for sole trader clients and solves several customer pain points in one seamless solution.”
The funds will be used to accelerate the banking and accounting roadmap to make it even easier and more efficient to digitally run a small business.
Founded by Tim Fouracre, formerly CEO of Clear Books Plc, Fouracre commented on the investment, “We’re thrilled to have ING Ventures on board. ING is a leading pan-European bank that has the reach to open up opportunities for Countingup as we look to expand internationally in the coming years.
Following this bridge investment we will seek to do a larger funding round to accelerate growth once normality returns to society and the economy post the COVID-19 pandemic.”
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.
Third-generation German shipowner turned venture capitalist, Christian Oldendorff, is one of the youngest leaders, recognised in The Thirty@30 Years list
Briiv is a Yorkshire-based startup that has created a new type of air purifier, inspired by nature and powered by Nanotechnology
.png)
The lowdown on the Liverpool-based Nova programme that is on the hunt for ambitious, early-stage founders and teams from throughout the UK to be part of its next cohort
We take a look at some basic tips on how social media has evolved and how small business owners can make it work to their advantage
Wakuda is a new e-commerce marketplace for black-owned businesses in the UK that aims to stimulate the black economy and help empower the black community
Resilience and Recovery, a new report from The Female Founders Forum is released outlining the impact of COVID-19 on female-founded, equity-backed businesses
Landscape launches - the platform that’s bringing transparency to fundraising founders and is being described as the ‘Glassdoor for Venture Capital’
The global early-stage venture capital firm Antler reveals that it has invested in 7 tech startups from its second UK cohort
The Dublin-based startup that's created an affordable and convenient lens replacement service for glasses
The startup that lets you handpick content from leading publications and turn it into beautifully narrated audio you can listen to any time, anywhere
Published on: 6th May 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Nova seeking ambitious founders for its co-foundery programme 15th Oct 2020 The lowdown on the Liverpool-based Nova programme that is on the hunt for ambitious, early-stage founders and teams from throughout the UK to be part of its next cohort
- Impact of COVID-19 on female-led businesses 13th Oct 2020 Resilience and Recovery, a new report from The Female Founders Forum is released outlining the impact of COVID-19 on female-founded, equity-backed businesses
- Landscape - transparency for fundraising founders 13th Oct 2020 Landscape launches - the platform that’s bringing transparency to fundraising founders and is being described as the ‘Glassdoor for Venture Capital’
- Antler invests in 7 new UK tech startups 12th Oct 2020 The global early-stage venture capital firm Antler reveals that it has invested in 7 tech startups from its second UK cohort
