Countingup Raises £4 Million for Business Expansion
Countingup, a prominent provider of business current accounts based in London, UK, has successfully raised £4 million in bridge funding, marking a significant step in its growth strategy. This funding round was primarily led by ING Ventures, which demonstrates the confidence that established financial players have in Countingup’s innovative approach to banking for small businesses. Alongside ING Ventures, co-investors such as Triple Point, CVentures, and BiG Start Ventures also participated, showcasing a broad interest and belief in the potential of Countingup's services. The funding is set to facilitate an expansion in its operations and enhance its outreach to a wider audience of small enterprises.
Founded in 2017 by Tim Fouracre, who previously served as CEO of Clear Books Plc, Countingup has made remarkable progress since its inception.
The company now proudly serves over twenty thousand customers and has processed nearly £1 billion in transactions, a testament to the trust that small businesses place in its offerings. One of the standout features of Countingup is its ability to allow small business owners to open a business current account directly from their smartphones in less than five minutes. This seamless process is further enhanced by the integration of banking and accounting features, making it a comprehensive solution for entrepreneurs looking to simplify their financial management.
In addition to its core banking services, Countingup has recently introduced the Accountant Hub, a cutting-edge web-based accounting system tailored to facilitate accountants' interactions with their SME clients. This new feature not only enhances the efficiency of the accounting process but also fosters better collaboration between accountants and businesses. As Countingup continues to innovate and grow, it remains committed to supporting the financial needs of small enterprises, allowing them to thrive in an increasingly competitive marketplace.
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