Sunderland fintech founded by two former accountants expands overseas

Sunderland-based fintech company Inflo is celebrating after expanding into new overseas markets.

The software as a service (SaaS) firm, operating from the council’s Evolve Business Centre at Rainton Meadows, has launched new offices in the US and Australia.

To facilitate further growth, Inflo has also taken on additional space at the Evolve Centre and signed strategic partnerships with global media giant Thomson Reuters, in the US, and accounting group Baker Tilly International.

Inflo was founded in 2016 by former accountants Mark Edmondson and Graham Clark. The firm’s workflow, data ingestion, data analytics and AI software is designed to improve accounting services.

Mark said: “We founded Inflo with a very clear vision of allowing accounting firms of all sizes to access the same benefits of the technology used by the ‘Big Four’ firms which dominate the audit market.

“We have always had our sights set on creating a globally scalable solution [and] decided to set up headquarters in the North East because of the business infrastructure and access to talent it offers.”

He continued: “Sunderland City Council has continually provided knowledge and contacts across the world to remove some of the barriers to global expansion and allow us to focus on building the infrastructure we need to meet incredible demand.”

Cllr Michael Mordey, the council’s Deputy Leader, commented: “Mark and Graham are real role models for any budding entrepreneur wanting to set up a business in the city.

“By embracing technology, the company is changing the face of one of the world’s most traditional sectors and is putting the North East on the map in doing so.”

He added: “The rate of growth Inflo has achieved in such a short period of time is unprecedented and is testament to their hard working, determined nature and the skills and dedication of their team.”

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