Countingup finds its auto-match for payments invoicing
UK-based challenger Countingup is taking on the “old-school” banks by offering invoicing, automated payment matching and expense tracking.
The firm offers a mobile app, allowing small businesses to do their banking, bookkeeping and stay on top of their taxes.
Taking on the “old-school” banks
Countingup’s CEO and founder, Tim Fouracre, says: “It’s a huge achievement to be the first business current account in the UK that provides an app with such a comprehensive range of accounting features to small businesses.”
With a distinct lack of love for juggling, he adds: “As a small business owner you will no longer have to juggle with three or four different pieces of software to run your business. If you raise an invoice using Countingup, when you receive the payment from your customer the invoice will be marked as paid automatically, which saves business owners valuable time.”
Since launching in March 2018, Countingup says over 8,000 small businesses have opened accounts with the London-based company. It has processed over £100 million of transactions.
Looking ahead, Fouracre explains that it will be “fully ready” for the “Making Tax Digital” project that HMRC will be rolling out for VAT.
Countingup was started in September 2017 by Fouracre. It is backed by venture capital firms, Forward Partners, Frontline Ventures and Jam Jar Investments.
He qualified as a chartered accountant at KPMG in 2007. He also founded cloud accounting software company Clear Books in 2008 and was its CEO for nine years.
Count them all if you want, but our long list of UK challenger banks is here.
