ANNA Money, a London-based fintech offering business owners a full suite of financial services, has secured a £10m debt funding deal.
Founded in 2017, ANNA Money’s platform offers business accounts, invoicing, payroll, taxes and administrative services to entrepreneurs.
The new funding has been secured in preparation for a significant shift in the tax requirements of the self-employed, the Making Tax Digital (MTD) initiative, which mandates the use of digital software to record and report income and expenses to HMRC.
“This funding gives us the firepower to scale at exactly the right moment,” says Eduard Panteleev, co-founder and co-CEO of ANNA Money.
“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.”
The debt funding has been provided by Flashpoint VC.
“ANNA Money is building exactly the kind of category-defining platform we look to support – one that combines strong fundamentals, clear product-market fit and the ability to scale efficiently through technology,” said Flashpoint Growth Debt’s managing partner Denis Mosolov.
“With MTD accelerating a structural shift in how UK small businesses manage their finances, ANNA is exceptionally well-positioned to lead the transition to AI-powered accounting.
“We’re excited to partner with Eduard, Boris and the team as they scale their platform, deepen automation and move toward their ambition of becoming the leading accounting, tax and admin solution for small businesses.”
