Accounting company Proper secures its seed round

Proper, an accounting platform for property management, has reportedly raised $4.8m in its seed round.

The investment was supported by MetaPop, Expa and Bling Capital, according to a report from Vator.

With the capital, the company plans to improve its automation technology, focusing on its Accounts Payable tool.

Proper is an accounting and bookkeeping solution for property managers and asset managers. It currently has 40 customers in the US and it is hoping to double this figure by the end of the year, the article states.

Annual recurring revenue has gone from zero to $1.1m in the past five months, according to the article.

The platform works by understanding the needs, setup, timelines, goals and pre-existing processes to provide the best accounting solution. It will then set up accounting flows to optimise software and establish timetables and expectations for all reconciliations, reports, and month-end processes.

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