ANNA Cash, a London-based fintech providing enterprise house owners a full suite of monetary providers, has secured a £10m debt funding deal.
Based in 2017, ANNA Cash’s platform affords enterprise accounts, invoicing, payroll, taxes and administrative providers to entrepreneurs.
The brand new funding has been secured in preparation for a major shift within the tax necessities of the self-employed, the Making Tax Digital (MTD) initiative, which mandates using digital software program to file and report earnings and bills to HMRC.
“This funding offers us the firepower to scale at precisely the correct second,” says Eduard Panteleev, co-founder and co-CEO of ANNA Cash.
“As MTD for Self Evaluation comes into drive for round 850,000 self-employed individuals and landlords subsequent 12 months, demand for good, automated accounting is accelerating quick. ANNA’s AI-driven methods imply a single human accountant can work throughout as much as 12,000 companies – the expertise does the remainder.”
The debt funding has been offered by Flashpoint VC.
“ANNA Cash is constructing precisely the type of category-defining platform we glance to help – one that mixes sturdy fundamentals, clear product-market match and the flexibility to scale effectively by means of expertise,” stated Flashpoint Development Debt’s managing associate Denis Mosolov.
“With MTD accelerating a structural shift in how UK small companies handle their funds, ANNA is exceptionally well-positioned to steer the transition to AI-powered accounting.
“We’re excited to associate with Eduard, Boris and the workforce as they scale their platform, deepen automation and transfer towards their ambition of turning into the main accounting, tax and admin answer for small companies.”
