Bookkeeper360 to improve business accounting through seed funding

Bookkeeper360 to improve business accounting through seed funding

US-based Bookkeeper360, which claims to be transforming traditional business accounting through technology, has closed its seed round on $3.5m.

Among the backers was National Business Capital. The FinTech company did not reveal the other investors, but stated it was filled by new strategic partners, customers and previous investors. It also received backing from angel investors of

Bookkeeper360 has experienced strong growth over the past 14 months. It has expanded its team by 120% and now supports nearly 1,000 customers nationwide. The company has also named three new directors.

The bookkeeping company, which celebrates its 10th anniversary later this year, offers business accounting technology and services to streamline and integrate back-office, management reporting, advisory, payroll and tax solutions.

It currently has integrations with Xero, Quickbooks Online and Gusto Payroll. Bookkeeper360 is looking to expand its existing integrations with additional marketplaces and operational platforms. It also wishes to integrate capital and lending products for customers.

Nick Pasquarosa, founder and CEO of Bookkeeper360, said, “The future for Bookkeeper360 has never been brighter. We have seen an enormous increase in demand for our accounting and advisory services, and on average, our customers are accessing our app more frequently than ever before.

“We are excited to continue developing solutions to help our customers grow faster and more efficiently. I’ve never been prouder of our team and value our customers who trust Bookkeeper360 to handle their finances.”

Bookkeeper360 previously raised $1m in its seed round last year, and brought its total funding to $2.1m.

In other bookkeeping news, FinTech decacorn Brex recently purchased bookkeeping and budgeting software developer Pry Financials in a $90m deal. Pry offers founders with tools to project cash flow, track budgets and scenario plans through dashboards and visualisations. Companies can easily track and categorise revenue and costs, and build a financial plan.

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