Today we’re delighted to be welcoming on board some new investors to the rapidly growing FreeAgent family: SM Trust and Torch Partners. Together with follow-on investment from some of our existing backers, a total of £2.25M is being invested in this round.
As you’ll know if you’ve been following our story for the last couple of years, we’ve made some fantastic progress and achieved some really significant milestones. But we’re also very ambitious about our goal to Democratise Accounting, and this new investment will allow us to accelerate our plans. Think of it as us loading up with rocket fuel!
We’ve always been proud of how we’ve ‘done more with less’ since our very early days as a self-funded startup. We’ve no intention of discarding that mindset, but we will be making our own significant investments in building our world-class team (we’re hiring!), creating a fantastic working environment where we can all be ‘at the top of our game’, and more rapidly spreading the word about FreeAgent.
The highly vocal enthusiasm of our customers was instrumental in attracting the new investment. As always, the capabilities (and ease-of-use) of the FreeAgent application itself are foremost in our minds: how can we best reduce the pain of accounting for you? It’s in these areas that you will see the most obvious acceleration, as we have a series of really significant innovations in the pipeline which we’ll be able to get on with much sooner.
So all in all, great news for our team, for our investors and for the FreeAgent product.
But we hope you’ll agree it’s even better news for you, our customers. And that’s what matters most!
- Turning over a new leaf: tips for organising your bookkeeping in autumn
- MTD for Income Tax: next steps for sole traders
- Hack to the future: how hack days inspire creativity at FreeAgent
- Video: self-employed business expenses by HMRC
- Finance Bill 2017-19: Making Tax Digital back on the agenda