New Zealand-based accounting software start-up Hnry has raised $35 million, with the capital injection set to accelerate its growth in Australia.
, and New York-based fund Left Lane Capital. It takes the company’s total capital raised to $53 million.
The start-up, founded in New Zealand by husband and wife team Claire and James Fuller in 2017, is a digital accounting platform for sole traders, taking care of tax lodgments, payments, invoicing and expense tracking. “Our focus is on the Australian market. There are hundreds of thousands of sole traders that we can be helping,” he said.
The pair ended up running their own taxes off a spreadsheet, until a few years later when they realised other people wanted access to what they had created. They turned their Excel documents into a website, ran a Twitter ad campaign and quickly started attracting customers. “People have also now tried traditional accounting services and software, looked at it and realised they’re still doing a lot of work themselves.”
Mr Fuller said the business kicked off its capital raise in the second half of last year, and the software start-up was able to bring AirTree on as its lead investors after getting to know the fund over a three-year period.
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