Fintech startup raises $12.7 million

  • Countingup has raised a £9.1 million ($12.7 million) Series A financial investment spherical.
  • The business enterprise accounting fintech raised funding from Framework Undertaking Associates.
  • The startup has processed over £1.7 billion ($2.4 billion) in transactions to date.
  • Go to the Company section of Insider for far more tales.

Countingup has raised a £9.1 million ($12.7 million) Collection A expense round, led by Framework Enterprise Partners.

The firm, which gives a business account that automates your accounting, also raised from Gresham House Ventures, Sage, and current buyers.

Founded in 2017, Countingup has processed above £1.7 billion ($2.4 billion) in transactions and has more than 34,000 customers, according to CEO and cofounder Tim Fouracre.

“There was no question that our organization was impacted all through March and April past 12 months with lockdowns but considering the fact that then revenues have bounced back,” Fouracre told Insider. “We are now observing history figures of enterprises include in the Uk, up 30-40{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} on the similar time period in the year in advance of.”

The funding will be used to go to increasing the vary of monetary solutions the corporation can offer with multi-forex invoicing, lending, and coverage following on the listing. 

The startup earlier elevated bridge funding from ING, Triple Stage, CVentures and Huge Start out Ventures.

Fouracre was previously founder and CEO of Clearbooks, an accounting software company from 2008 onwards. Countingup has now elevated $21.4 million in complete. Fundraising commenced just before Christmas 2020 and was distant, a “much more efficient system” in accordance to Fouracre. 

Test out Countingup’s Collection A pitch deck beneath: