ANNA Money, a London-based FinTech providing business banking and automated accounting tools for small businesses and the self-employed, has secured fresh funding as the UK prepares for a major shift in tax reporting requirements.
According to UKTN, the company has raised £10m in debt funding, with the financing provided by Flashpoint VC through its growth debt arm, as ANNA Money positions itself for increased demand ahead of the rollout of Making Tax Digital for Self Assessment.
Founded in 2017, ANNA Money offers a broad suite of financial services designed to simplify day-to-day administration for entrepreneurs and small business owners. Its platform combines business current accounts with invoicing, payroll, tax support and administrative tools, aiming to reduce the manual burden associated with running a business.
The new funding comes as HMRC prepares to extend its Making Tax Digital initiative to self-employed individuals and landlords. The programme will require users to maintain digital records and submit income and expense data through approved software, a move expected to affect around 850,000 people from next year.
ANNA Money said the capital injection will allow it to scale its operations at a time when regulatory change is accelerating adoption of digital accounting solutions. The company plans to invest in expanding its technology and automation capabilities to support a growing customer base navigating new compliance requirements.
A key focus of ANNA Money’s platform is the use of AI-driven systems to automate accounting processes, enabling the business to operate at scale while keeping costs down for customers. The company says this approach allows a single accountant to oversee thousands of businesses simultaneously, with technology handling much of the routine work.
ANNA Money co-founder and co-CEO Eduard Panteleev said, “This funding gives us the firepower to scale at exactly the right moment.”
He added, “As MTD for Self Assessment comes into force for around 850,000 self-employed people and landlords next year, demand for smart, automated accounting is accelerating fast. ANNA’s AI-driven systems mean a single human accountant can work across up to 12,000 businesses – the technology does the rest.”
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