# Hammock Financial Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hammock-financial-services

- Industry: Financial Services
- Headquarters: London, UK
- Website: http://www.usehammock.com
- Total disclosed funding: $1.2M
- Latest round: Seed (Feb 21, 2020)
- Investors on record: 3

## About

Hammock Financial Services Ltd. offers an innovative accounting platform tailored for landlords in the UK, streamlining bookkeeping processes and providing valuable insights for property management.Founded in 2019 in London, UK, Hammock Financial Services Ltd. specializes in automating accounting for landlords. The company was co-founded by Manoj Varsani and Marco Ferrari. In January 2021, Hammock secured GBP 969 thousand in a funding round led by Force Over Mass Capital, bringing its total raised capital to GBP 969 thousand and its valuation to GBP 6.524 million. The company has completed two deals to date.Hammock provides a comprehensive accounting platform specifically designed for landlords in the UK, focusing on automating bookkeeping, generating property tax statements, and offering investment insights. The core functionalities of Hammock include real-time tracking and reconciling of rental income and expenses, which helps landlords manage their portfolios more efficiently. The software supports Making Tax Digital (MTD) compliance by allowing users to submit quarterly MTD filings, addressing the regulatory landscape for property taxation. Hammock's applications cater to landlords managing multiple properties, ensuring ready access to financial data and insights, primarily serving users across the United Kingdom.Hammock generates revenue through a subscription-based pricing model tailored to landlords based on property portfolio size. Pricing plans include options for managing 1-3 properties at GBP 5.99 per month, 4-10 properties, 11-20 properties at GBP 19.99 per month, and over 21 properties. This tiered pricing structure provides users access to functionalities like rent tracking, arrears tracking, and bookkeeping services, emphasizing direct-to-consumer transactions without intermediaries.Hammock plans to utilize the recent funding raised in January 2021 to enhance its platform and expand product offerings. The company aims to develop new features that further simplify tax compliance for landlords. Additionally, Hammock is targeting expansion into other regions within the UK and possibly looking at international markets for future growth.

## Funding rounds

- Seed, Feb 21, 2020, $1.2M — Founders Factory, Fuel Ventures, Ascension

## Investors

- Founders Factory (https://capitalatlas.ai/funds/founders-factory) — Seed
- Fuel Ventures (https://capitalatlas.ai/funds/fuel-ventures) — Seed
- Ascension (https://capitalatlas.ai/funds/ascension) — Seed