, a business that provides a cloud-based accounting solution for SMEs, has secured 拢1.5m from alternative lender BOOST&Co to expand the business on a national scale from its roots in London and the South East.
The SaaS company will use the funding to create more than 100 jobs in the UK over the next three years, with new roles across its finance, marketing, sales, product development, and customer success teams.
The Accountancy Cloud provides online accountancy services, including bookkeeping and access to accountants and chief financial officers (CFOs), to support startups with financial processes.
BOOST&Co has chosen to work with The Accountancy Cloud because it has achieved considerable growth in recent years. BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs.
More from News
- Can Europe Solve Its Critical Minerals Problem Fast Enough To Support Its Tech Ambitions?
- Google Has Agreed To A 拢260 Million Settlement: Who’s Eligible For Compensation?
- China Wants To Build A Third Global AI Bloc 鈥� What Does That Mean For Everyone?
- Advanced AI Society Joins the Linux Foundation And Launches Open Verification Ecosystem
- What Could Snap鈥檚 Partnerships With Big Tech Mean For The AR Industry?
- Why Did A Four-Year Bomb Threat Campaign Involving 500,000 Gmail Accounts Go Unchecked?
- What Do Dario Amodei And The JCHR’s AI Warnings Mean For Startups and SMEs?
- Exabeam Research: Security Leaders Identify AI Agent Access As A Top Insider Risk Priority
It has funded more than 拢500m across more than 130 deals to date and provided close to 拢200m under the government鈥檚 CBILS initiative to support SMEs during Covid-19.
Wesley Rashid, Chief Executive of The Accountancy Cloud, says: 鈥淲e are pleased to be working with BOOST&Co to help fund the expansion of our team and continue to grow on a national scale. Having recently won the 2021 Accounting Excellence Medium Firm of the Year Award, we are looking forward to what the future holds and to building on the success we have seen so far.鈥�
Adam Brinn, Head of London and the East at BOOST&Co, says: 鈥淚t鈥檚 been a pleasure to work with Wesley and the Accountancy Cloud team at an exciting time for the business. Our growth loan will be used to further develop the platform and fund a nationwide expansion of the sales and marketing teams, creating 100 jobs in the next three years.
鈥淲e are excited to be working with an ambitious management team of established entrepreneurs at a critical time of growth and look forward to being a part of their journey.鈥�
