Accounting platform Translucent nets £2.7m financing


Translucent, a UK-based accounting software platform, has secured £2.7m in a pre-seed round headed by Wise and LocalGlobe.

According to UKTN, Michael Wood founded Translucent last year after noticing the complexity associated with multi-entity companies dealing with financial data across multiple platforms.

The publication noted that Translucent is a platform to layer on top of existing accounting software, such as Xero, Quickbooks and Sage, and present all of the relevant data in a single space.

The pre-seed also saw participation from ex-Xero executive Craig Walker, who co-founded and served as CTO of Xero, and Gary Turner, the co-founder and former managing director of Xero UK.

Translucent founder Michael Wood said, “Xero, and others, have transformed accounting for single-entity businesses, but from my own experience, I know the problems that multi-entity businesses face,” said Wood.

“Translucent will enable businesses to consolidate their multiple entities, and the software attached to each, to create a single system of record.”

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Orb, a pricing platform, has recently landed $19.1m in total funding across Series A and seed funding rounds.

Orb powers billing for high-growth B2B technology companies including Airbyte, Dune, and Materialize, saving them engineering costs and enabling them to unlock more revenue. Revenue is a company-wide effort, so Orb’s solution is designed to accelerate all stakeholders toward their goals.

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