5 years ago

Coconut Raises £2.4 Million in Crowdfunding, Launches New Accounting Service

  • Coconut, a fintech startup focused on providing banking, accounting, and tax solutions for entrepreneurs and small businesses, has successfully raised over £2.4 million through a crowdfunding campaign, exceeding its target by 350%

  • The company has also launched a new accounting service aimed at simplifying account filing for its users

  • Coconut's success in crowdfunding demonstrates strong community support and investor confidence in its product and growth potential, particularly during challenging economic times

  • The company is also partnering with accounting practices across the UK to integrate its accounting service and further expand its reach.

      • ProblemFinancial Services

      "Limited financial services offering for the UK's 5.3m self-employed and micro-SMEs, with only 3% of businesses switching accounts each year and branch closures reducing the relationship between banks and business owners"

      Solution

      "Coconut's smart banking, accounting, and tax tool that helps entrepreneurs and small businesses manage their finances, with an integrated and highly innovative accounting service offering powered by Open Banking and a powerful new categorisation feature"

      Covered on