Technology

Accountancy Cloud secures £1.5m from BOOST&Co

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The Accountancy Cloud, a company offering a cloud-based accounting solution for SMEs, has secured £1.5m from alternative lender BOOST&Co to expand the business nationally from its roots in London and the South East.
The SaaS company will use the funding to create more than 100 jobs in the UK over the next three years, with new roles across its finance, marketing, sales, product development and customer success teams.

The Accountancy Cloud provides online accounting services, including bookkeeping and access to accountants and Chief Financial Officers (CFOs), to help startups with financial processes.

BOOST&Co chose to work with The Accountancy Cloud because it has achieved significant growth in recent years. BOOST&Co is a leading provider of growth capital to innovative, fast-growing UK SMEs.

It has so far funded more than £500m for more than 130 transactions and committed nearly £200m to support SMEs during Covid-19 as part of the Government’s CBILS initiative.

Wesley Rashid, CEO of The Accountancy Cloud, says: “We are delighted to partner with BOOST&Co to fund the expansion of our team and continue to grow nationally. Having recently won the 2021 Accounting Excellence Medium Firm of the Year award, we look forward to the future and to building on the success to date.”

Adam Brinn, Head of London and the East at BOOST&Co, says, “It has been a pleasure working with Wesley and the team at Accountancy Cloud at an exciting time for the company. Our growth loan will be used to continue developing the platform and to fund an expansion of the sales and marketing teams nationwide, creating 100 jobs over the next three years.
“We are delighted to be working with an ambitious management team of established entrepreneurs at a critical period of growth and look forward to being a part of their journey.”

https://techround.co.uk/news/the-accountancy-cloud-secures-1-5m-from-boostco/?utm_source=rss&utm_medium=rss&utm_campaign=the-accountancy-cloud-secures-1-5m-from-boostco Accountancy Cloud secures £1.5m from BOOST&Co

Fry Electronics Team

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