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§ Private Profile · London, UK
Fintech platform combining a business current account with accounting software in one mobile app for UK self-employed and small businesses.
Countingup has raised $21.5M across 4 funding rounds.
Key people at Countingup.
Countingup has raised $21.5M in total across 4 funding rounds.
Founded in 2017 by Tim Fouracre, London-based Countingup is a fintech company providing a combined business current account and automated accounting software platform for self-employed individuals and micro-businesses. The mobile application integrates core banking services with real-time bookkeeping, expense categorization, and digital tax filing capabilities to replace traditional banks and standalone accounting software systems. The platform has scaled operations significantly across the United Kingdom, growing to serve over 100,000 small business customers while processing more than ten billion pounds in total customer transactions. Countingup has secured over twenty-one million dollars in total venture funding to support its ongoing expansion and the development of its dedicated Accountant Hub. This capitalization includes a Series A investment round of over nine million pounds backed by institutional investors Framework Venture Partners, Gresham House Ventures, Sage, and ING Ventures.
Key people at Countingup.
Countingup has raised $21.5M across 4 funding rounds. Most recently, it raised $12.7M Series A in March 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 4, 2021 | $12.7M Series A | Peter Misek | Henry Alty, Neal Watkins | Announced |
| May 7, 2020 | $4.9M Venture Round | Benoît Legrand | BIG Start Ventures, Shady A. Tadross, Triple Point Ventures | Announced |
| Sep 3, 2018 | $3M Seed | Forward Partners | Frontline Ventures, JamJar Investments | Announced |
| Oct 23, 2017 | $880K Venture Round | Frontline Ventures | Andy Chung, BEN Heald, Benjamin Grol, Will Neale | Announced |
Countingup is a UK-based fintech company offering a business current account integrated with automated accounting, tax tools, and invoicing for sole traders, freelancers, and self-employed individuals.[1][5] It solves the pain points of manual bookkeeping, tax compliance, and fragmented banking by providing an all-in-one mobile app that automates expense categorization, real-time tax estimates via SmartTax AI, VAT filing to HMRC, receipt storage, and financial insights, while including a Mastercard debit card and cash deposit options at PayPoint and Post Office locations.[2][5] The company has demonstrated strong growth, surpassing £10 billion in customer transactions, serving over 100,000 UK small businesses, and raising $13 million in funding with revenue up to $10 million.[2][3][6]
Founded in 2017 by Tim Fouracre, previously the founder of cloud accounting software Clear Books, Countingup emerged from his vision to merge business banking and accounting into a single smartphone app for sole traders.[1][4][7] Fouracre conceived the idea around 2014 after recognizing the tedium of separate bookkeeping and banking, officially starting full-time development in September 2017 and raising $750K seed funding to launch the UK current account later that year, with accounting features following in early 2018.[4] Early traction built on this integrated model, evolving into a "financial super app" under CEO Tom Platt, who has led recent milestones like the £10 billion transaction volume.[2]
Countingup rides the fintech democratization wave for SMEs, capitalizing on the shift from legacy banks to neobanks like Revolut, Monzo, and Tide, amid rising self-employment in the UK (post-pandemic boom in gig/freelance work).[1][4] Timing aligns with regulatory openness to electronic money institutions and HMRC's digital tax push (e.g., Making Tax Digital), enabling seamless VAT integration that traditional players lag on.[2][5] Market forces like high SME admin burdens (bookkeeping chores, tax compliance) favor its automation, positioning it against US rivals like Lili, NorthOne, and Novo while carving a UK niche through partnerships (e.g., iwoca, Sleek) that embed lending and expand services.[1][3] It influences the ecosystem by lowering barriers for sole traders, fostering a "co-pilot" model that boosts small business survival and growth.
Countingup is poised to solidify as the #1 financial tool for UK self-employed by rolling out advanced tax automation (VAT to corporation tax/full filing) and deeper integrations, leveraging its £10B transaction scale for data-driven insights and upsell opportunities like lending.[2][3] Trends like AI-enhanced fintech (e.g., SmartTax evolution) and SME lending growth will propel it, potentially expanding EU-wide or adding payroll/insurance amid regulatory tailwinds. Its influence may grow via network effects, humanizing fintech for millions of freelancers and redefining "business banking" as proactive admin relief—echoing its origin as a simple app that turned sole trader drudgery into streamlined success.
Countingup has raised $21.5M in total across 4 funding rounds.
Countingup's investors include Peter Misek, Henry Alty, Neal Watkins, Benoît Legrand, BiG Start Ventures, Shady A. Tadross, Triple Point Ventures, Forward Partners, Frontline Ventures, JamJar Investments, Andy Chung, Ben Heald.
