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Tech Lowdown: Countingup, QBO, Modulr and more

This week’s roundup features Countingup £9.1m investment, Wolters Kluwer’s Finsit, QBO’s partnership with Modulr and more.

10th Mar 2021
Staff Writer AccountingWEB
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Countingup closes £9.1m Series A investment

Countingup has raised £9.1m in a Series A investment round, led by Framework Venture Partners and joined by Gresham House Ventures, Sage, and existing investors. The funding will be used to drive product innovation, growth and team expansion.

“This funding round is helping fuel our product roadmap, including the launch of our digital tax filing service, which aims to be a huge help to small businesses as new Making Tax Digital regulations come into effect from April 2022,” said Countingup founder and CEO Tim Fouracre.

Wolters Kluwer unveils financial insight platform finsit

Wolters Kluwer has launched cloud-based financial insights platform finsit to its UK CCH OneClick customers. 

The platform was developed specifically for accountants to strengthen advisory offerings and is suitable for practices of all sizes.

Finsit presents finances in a visually appealing, digestible format, to improve insight-rich conversations with clients and provide proactive advice. 

Customer benefits finsit offers include:

  • Clean, simple visual reports that can be accessed on laptops, tablets, or mobile devices

  • Streamlined reporting processes, helping businesses better understand their company's financial outlook

  • Full integration with bookkeeping systems

finsit is already an established cloud-based service in Scandinavia, having been used by accounting firms in the region since 2006. Existing customers include BDO, Grant Thornton, Aspia and EY.

QuickBooks announces agreement with Modulr

Intuit QuickBooks has announced an agreement with Modulr to power the new QuickBooks Business AccountModulr will power the new QuickBooks Business Account – a new digital payment account designed for small businesses.

The partnership will offer payments infrastructure and digital payments expertise. QuickBooks combines a business account with its suite of bookkeeping, accounting and tax tools in its quest to be ‘The One Source of Truth for a Small Business’.

Modulr will also allow QuickBooks to make the digital physical by providing a personal QuickBooks Business Account card when it becomes generally available. It means that as soon as a small business is paid into its QuickBooks Business Account, funds are available to spend immediately with the card.

AccountsIQ partners with Lightyear

Growing AP software platform Lightyear has partnered with AccountsIQ to offer a complete business automation and management solution. 

AccountsIQ customers can access Lightyear’s Accounts Payable automation service which offers accurate and fast line-item data-extraction technology from digital documents.

“Both products have been designed for medium-sized businesses giving them the tools they need to automate processes across multiple sites and group structures,” commented Lightyear CEO Chris Gregg.

With Lightyear’s customisable multi-tiered approvals workflow, AccountsIQ users can build workflows to approve bills from any device.

Reducer wins Xero Emerging App Partner of the Year 2021

Reducer has won Xero’s Emerging App Partner of the Year at Xero’s annual awards ceremony. The win comes a month after Xero announced Reducer as App Partner of the Month for February. 

There was no shortlist for the Emerging App award, with the decision of the judging panel being a highly anticipated award for the night. The awards were held remotely this year having previously taken place at Electric Brixton in 2019.

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