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FreeAgent has raised $1.1M across 2 funding rounds.
Key people at FreeAgent.
FreeAgent was founded in 2007 by Alexander Bruehl (Until June 2018: Adviser to the Founder & CEO - Investor ⇨ acquired by Royal Bank Of Scottland).
FreeAgent has raised $1.1M in total across 2 funding rounds.
FreeAgent is a UK-based software company that provides cloud accounting platforms for small businesses, freelancers, contractors, and accounting professionals. The subscription-based software service enables users to manage invoices, track time and expenses, import bank statements, build real-time accounts, forecast taxes, and file returns directly to HMRC. The software also features a dedicated Practice Dashboard designed specifically for accountants and bookkeepers to manage their client portfolios. Operating with a workforce of over 200 employees, the platform currently serves more than 200,000 small business customers, representing substantial growth from the 90,000 users reported in 2019. After going public on the AIM market of the London Stock Exchange in 2016, the company was acquired by NatWest Group in 2018 for approximately $75 million, while remaining operationally independent. FreeAgent was founded in 2007 by Roan Lavery, Ed Molyneux, and Olly Headey.
FreeAgent has raised $1.1M across 2 funding rounds. Most recently, it raised $1.0M Series B in May 2012.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2012 | $1M Series B | — | Lightbank | Announced |
| Sep 1, 2009 | $150K Seed | — | Point Nine Capital | Announced |
Key people at FreeAgent.
FreeAgent is a cloud-based accounting software company designed for small businesses, freelancers, contractors, and creative/tech professionals. It provides tools to manage invoicing, expenses, payroll, taxes, VAT returns, and cashflow, solving the pain of manual bookkeeping by offering an intuitive dashboard for real-time financial control.[1][2][3][5] Serving over 200,000 customers primarily in the UK (with US availability), it targets micro-businesses and SMEs, enabling them to track projects, time, profitability, and compliance like Making Tax Digital (MTD) without spreadsheets or stress.[2][3][4] Acquired by NatWest Group in 2018, FreeAgent has scaled to over 280 employees while staying customer-focused, with strong growth from its 2007 launch.[1][3]
FreeAgent was founded in 2007 by Ed (Edward Murphy), Olly (Olly Barrow), and Roan Lavery, who were freelance designers and developers frustrated with the "mess and stress" of managing invoices, spreadsheets, and receipts.[1][3] Working around a kitchen table, they built the software for their own needs, recognizing a broader gap for UK small businesses lacking tailored tools.[1][3] Early steps included beta testing with similar businesses over months, leading to a public launch after positive feedback confirmed market demand and viability as a full-time venture.[1] Pivotal moments: Hiring the first employee in 2008, scaling to 280+ staff, and the 2018 NatWest acquisition, which accelerated growth while preserving independence.[1][3] Today, it embodies the founders' vision of empowering small businesses financially.[3]
FreeAgent stands out in the accounting software space through user-centric design and features tailored for non-accountants:
FreeAgent rides the wave of cloud accounting democratization, coinciding with the 2007 smartphone boom (iPhone/Kindle era) that normalized mobile-first SaaS for non-experts.[3] Its timing capitalized on rising freelancing/contractor economies in the UK, amplified by post-2008 recovery and digital compliance mandates like MTD, reducing admin burdens amid remote work surges.[2][4] Market forces favoring it include SMB digitization (200k+ users), NatWest backing for stability, and integrations enhancing ecosystems for tools like project management apps.[3][4] It influences the landscape by upskilling micro-businesses—freeing owners for growth—and supporting accountants via partner programs, fostering a happier, more efficient startup/freelance ecosystem.[1][3][6]
FreeAgent's trajectory points to deeper AI-driven automation (e.g., predictive cashflow, smarter tax insights) and global expansion beyond UK/US, leveraging NatWest's resources amid rising gig economy demands.[3] Trends like real-time compliance, embedded finance, and no-code tools will propel it, especially as SMBs prioritize profitability tracking in volatile markets. Its influence may evolve by dominating creative/tech niches and powering accountant networks, solidifying its role in making small businesses "happier and more successful"—a mission born from founders' kitchen-table frustrations now turbocharged for the next million users.[1][3]
FreeAgent was founded in 2007 by Alexander Bruehl (Until June 2018: Adviser to the Founder & CEO - Investor ⇨ acquired by Royal Bank Of Scottland).
FreeAgent has raised $1.1M in total across 2 funding rounds.
FreeAgent's investors include Lightbank, Point Nine Capital.
