SME finance app hits 10k mark a month after Making Tax Digital launch

Accounting and banking platform Countingup has secured over 10,000 new customers following the launch of the government’s Making Tax Digital initiative on April 1.

Based in London, the platform is a combined banking and accounting app for startups, small businesses and freelancers.

Founded by Tim Fouracre to fill a gap in the market for “a new category of business app that would help entrepreneurs simplify, automate and save time and money”, the app has achieved rapid growth with the introduction of the new business tax initiative at the beginning of the month.

The news of hitting 10,000 customers follows the securing of £2.8m in venture capital for the company, which is also in the process of applying for a £5m grant from the Banking Competition Remedies Ltd (BCR) Pool D Capability and Innovation Fund.

Fouracre added: “These plans are made possible by our ongoing growth. Our customers have transacted more than £250 million and have already created thousands of invoices. We’re delighted to have surpassed the 10,000 customer mark in under a year.”

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