Countingup, a UK-based provider of bookkeeping software, has raised £9.1m ($12.6m) in series A funding from a consortium including enterprise software producer Sage.
Venture capital firms Framework Venture Partners led the round, which included alternative asset manager Gresham House Ventures.
Founded in 2017, Countingup offers a business current account with built-in accounting software, and will use the funding to drive product innovation, growth and team expansion.
The company secured $5.3m in a May 2020 bridge round led by ING Ventures, the VC arm of financial services provider ING, and backed by Triple Point, CVentures and Big Start Ventures.
Countingup had raised $750,000 in a 2017 round led by Frontline Ventures that included various angel investors, adding $3m in a 2018 round led by Forward Partners that also featured Frontline and JamJar Investments.
Neal Watkins, executive vice-president of the small business segment at Sage, said: “Investing in high growth [software-as-a-service] businesses is core to our strategy to enable small businesses and accountants to survive and thrive.”
