Chloe Shakesby

Multi-million pound investment round drives growth for London fintech

A London fintech has announced that it has completed a £9.1m investment round to grow its team and business.

Countingup, a business current account with built-in accounting software, has closed the multi-million pound Series A investment round, which was led by Framework Venture Partners and joined by Gresham House Ventures, Sage, and existing investors.

The funding will be used to drive product innovation, growth and team expansion.

Tim Fouracre, CEO and founder of Countingup, commented: “We are delighted to have the backing of experienced investors on our journey to becoming the ultimate financial tool for the self-employed.

“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.

“Entrepreneurs wake up everyday doing what they love and Countingup helps them do just that.

“No entrepreneur ever says “Can’t wait to do my bookkeeping! Can’t wait to do my taxes!” By using Countingup, all the drudgery of a small business vanishes.

“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!”

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