Accounting software provider Iplicit bags £25m investment from One Peak
UK-based cloud accounting software provider Iplicit has bagged a £25 million investment from One Peak in its first external institutional funding round.
Founded in 2013, Iplicit delivers a suite of cloud-based accounting solutions tailored for firms in the UK that have “outgrown entry-level accounting software”.
The company claims to support over 38,000 daily users and serves more than 2,000 clients with tools for cash flow and invoice management, debt reporting, automated VAT returns and expense analytics, among others, all accessible through its mobile app.
One Peak’s investment has been earmarked to expand marketing efforts and enhance product development.
In line with these growth plans, Iplicit promoted Paul Sparkes to chief product officer in January, after six years as commercial director.
After reporting 113% year-on-year growth in 2024, Iplicit is now aiming to become a tech unicorn with a valuation exceeding $1 billion, according to CEO Lyndon Stickley, who states that the new funding will help the company “sustain our momentum”.
Iplicit’s raise caps off an active January for global accounting fintechs, with Australian financial document processing start-up Extractly.ai being snapped up by Canadian tech provider Caseware, and US-based automated accounting software vendor Open Ledger landing a $3 million pre-seed round.