Ember raises £1.6m to automate tax and accounting for businesses

Ember, which’s software platform automates tax and accounting processes for SMEs, has raised £1.6m in a seed round led by Anthemis with participation from VC funds Innovation Nest and Spring Ventures.

With an aim to scale up further, the cash injection will be used for product development, recruitment, and customer acquisition. Ember is also planning to use the funding to expand the progressive functionalities of the platform, it said.

The UK-based firm which was founded by Aaron Shaw and Daniel Hogan in 2019, provides real-time accounting for business owners conducive to their specific language and interface, therefore, guaranteeing complete transparency on their company finances.

Ember’s platform automates the entire process of filing taxes with HMRC, which traditionally has been a manual procedure. Automating the process makes tax filing more efficient and transparent as well as reduces time, resources and human errors.

Leveraging open banking and machine learning, Ember’s software provides users with all the financial information in one central feed and helps them manage a slew of tax obligations at a much lower cost compared to manual labour.

Furthermore, as modern technologies continue to ease most business processes including taxes and accounting, entrepreneurs no longer require a financial degree or qualification to launch and sustain a company, according to co-founder and COO Daniel Hogan.

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