2 years ago

Translucent Raises £2.7 Million to Simplify Accounting for Multi-Entity Firms

  • Translucent, a London-based accounting software platform, has secured £2.7 million in pre-seed funding led by fintech company Wise and venture capital firm LocalGlobe

  • Founded by Michael Wood, a former accounting software executive, Translucent aims to simplify financial data management for multi-entity firms by integrating with existing accounting software like Xero, Quickbooks, and Sage

  • The funding will be used to further develop the platform and expand its reach

  • The round also saw participation from several prominent figures in the accounting software industry, including ex-Xero executive Craig Walker and Gary Turner, the co-founder and former managing director of Xero UK.

      • ProblemTechnology

      "Multi-entity businesses struggle to manage financial data across multiple platforms and accounting software like Xero, Quickbooks, and Sage."

      Solution

      "Translucent provides a platform that integrates with existing accounting software, consolidating data from multiple entities into a single system of record."

      Covered on