# Counting

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/counting

- Industry: Software
- Headquarters: London, UK
- Website: www.countingup.com
- Total disclosed funding: $18M
- Latest round: Series A (Feb 19, 2021)
- Investors on record: 6

## About

Counting Ltd, operating as Countingup, delivers an integrated financial management solution tailored for sole traders and the self-employed, combining banking and accounting services for streamlined financial oversight.Counting Ltd, founded in 2017, is based in London, UK. The company specializes in providing a digital banking solution that caters to freelancers and small businesses. Founders Mike Moate and Tim Fouracre have a history of involvement in similar ventures. Counting Ltd has completed 5 deals, with their most recent funding round taking place on February 19, 2021. The company raised GBP 10 million in a Series A round led by Altair Capital, bringing the total amount raised to GBP 10 million and a current valuation of GBP 46.95 million.Counting Ltd, trading as Countingup, offers a comprehensive financial solution designed specifically for sole traders, freelancers, and the self-employed. The company’s primary product is an electronic money business account that integrates innovative accounting software, enabling users to automate key tasks such as bookkeeping and tax management. This service allows clients to generate and send unlimited invoices, receive payment alerts, and access real-time financial insights, including profit and loss reports and tax estimates. Target customers include over 100,000 businesses across the UK, prioritizing those who require efficient financial management tools without the complexity of traditional accounting methods. The product is available in the UK market, catering to a growing demand for streamlined financial solutions tailored to the needs of small business operators and independent professionals.The revenue model of Countingup is primarily based on transaction fees and subscription services associated with their business account, which is structured to accommodate varying levels of monthly deposits, ranging from GBP 0 to over GBP 7,500. Clients utilize the platform for invoicing and financial tracking, with the service designed to facilitate seamless transactions between the company and its users. Revenue is generated through a combination of customer subscriptions during the trial period and subsequent account fees as businesses scale their financial activities. Moreover, the company provides access to essential financial tools that further integrate into users' operational workflows, ensuring consistent engagement and service utilization. The account features are engineered to deliver value to users, particularly focusing on ease of use and immediate financial oversight.In February 2021, Counting Ltd raised GBP 10 million in Series A funding led by new investor Framework Venture Partners, with participation from other new investors Gresham House and Sage (UK) Limited. The company plans to utilize the funding to drive product innovation, growth, and team expansion. Future initiatives include the design and launch of new features aimed at enhancing the user experience and expanding their reach in the UK market. Additionally, Counting Ltd is exploring opportunities to enter new geographic regions, although specific markets and timelines have not been disclosed.

## Funding rounds

- Series A, Feb 19, 2021, $14M — Sage (UK) Limited, Gresham House, Framework Venture Partners
- Seed, Aug 29, 2018, $3M — Frontline, Forward Partners, JamJar Investments
- Angel, Sep 30, 2017, $0.7M — Frontline

## Investors

- Frontline (https://capitalatlas.ai/funds/frontline) — Angel, Seed
- Forward Partners (https://capitalatlas.ai/funds/forward-partners) — Seed
- JamJar Investments (https://capitalatlas.ai/funds/jamjar-investments) — Seed
- Sage (UK) Limited — Series A
- Gresham House (https://capitalatlas.ai/funds/gresham-house) — Series A
- Framework Venture Partners (https://capitalatlas.ai/funds/framework-venture-partners) — Series A