• FOUNDING YEAR: 2010
    LOCATION:
    Canada
    REGION:
    ON
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Cloud based integrated software and tools for small business accounting, invoicing, payroll and more. The apps helps businesses & individuals to make it easy to create and send the invoices, estimates and receipts in seconds.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Small scale business owners, Freelancers, Contractors, Enterpreneurs
EXISTING PARTNERSHIPS:
Partnered with payment processing firm Stripe and with NAB will open up opportunities for the business to cater more towards Australian small businesses.
COMMENT
It tracks income and expenses of the businesses with receipt scanning tools and bank connections. The company offers new feature in the accounting software which creates accurate financial reports, such as balance sheets, sales reports, tax documents.

PEOPLE

FOUNDERS:
James Lochrie, Kirk Simpson
Board Members and Advisors:
Mamoon Hamid, Spencer Punter, Damien Steel, Devdutt Yellurkar
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
Social Capital, Charles River Ventures, OurCrowd, HarbourVest Partners, BDC Capital, OMERS Ventures, RBC, Feddev Ontario, Inkef Capital, NAB, Portag3 Ventures
KEY EMPLOYEES:
Kirk Simpsons(CEO)

TRACTION

VALUATION / MARKET CAP:
$158.33 MM in 2017
ACTIVE USERS COMMENT:
The company has grown to reach over 2.5 million business owners across more than 200 countries, with above 35,000 active users in Australia (May 2017).

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$79.5 Millions
DATE OF LAST FUNDING:
May 2017
SEED & PRIOR FUNDING:
$1.68 Millions
SEED CLOSED ON:
Jun 2011
FUNDING SERIES:
SERIES A
$5.8 Millions Closed: Oct 2011
SERIES B
$6 Millions Closed: May 2012
SERIES C
$16.7 Millions Closed: Mar 2016
SERIES D
$38 Millions Closed: May 2017
LISTED:
NO
COMMENT:
Equity crowdfunding: $1.2 M(Aug 2015)

LATEST RESEARCH