Countingup
Countingup is a technology company.
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Leadership Team
Key people at Countingup.
Countingup is a technology company.
Key people at Countingup.
Key people at Countingup.
Countingup is a UK-based fintech company offering a business current account integrated with automated accounting, tax tools, and invoicing for sole traders, freelancers, and self-employed individuals.[1][5] It solves the pain points of manual bookkeeping, tax compliance, and fragmented banking by providing an all-in-one mobile app that automates expense categorization, real-time tax estimates via SmartTax AI, VAT filing to HMRC, receipt storage, and financial insights, while including a Mastercard debit card and cash deposit options at PayPoint and Post Office locations.[2][5] The company has demonstrated strong growth, surpassing £10 billion in customer transactions, serving over 100,000 UK small businesses, and raising $13 million in funding with revenue up to $10 million.[2][3][6]
Founded in 2017 by Tim Fouracre, previously the founder of cloud accounting software Clear Books, Countingup emerged from his vision to merge business banking and accounting into a single smartphone app for sole traders.[1][4][7] Fouracre conceived the idea around 2014 after recognizing the tedium of separate bookkeeping and banking, officially starting full-time development in September 2017 and raising $750K seed funding to launch the UK current account later that year, with accounting features following in early 2018.[4] Early traction built on this integrated model, evolving into a "financial super app" under CEO Tom Platt, who has led recent milestones like the £10 billion transaction volume.[2]
Countingup rides the fintech democratization wave for SMEs, capitalizing on the shift from legacy banks to neobanks like Revolut, Monzo, and Tide, amid rising self-employment in the UK (post-pandemic boom in gig/freelance work).[1][4] Timing aligns with regulatory openness to electronic money institutions and HMRC's digital tax push (e.g., Making Tax Digital), enabling seamless VAT integration that traditional players lag on.[2][5] Market forces like high SME admin burdens (bookkeeping chores, tax compliance) favor its automation, positioning it against US rivals like Lili, NorthOne, and Novo while carving a UK niche through partnerships (e.g., iwoca, Sleek) that embed lending and expand services.[1][3] It influences the ecosystem by lowering barriers for sole traders, fostering a "co-pilot" model that boosts small business survival and growth.
Countingup is poised to solidify as the #1 financial tool for UK self-employed by rolling out advanced tax automation (VAT to corporation tax/full filing) and deeper integrations, leveraging its £10B transaction scale for data-driven insights and upsell opportunities like lending.[2][3] Trends like AI-enhanced fintech (e.g., SmartTax evolution) and SME lending growth will propel it, potentially expanding EU-wide or adding payroll/insurance amid regulatory tailwinds. Its influence may grow via network effects, humanizing fintech for millions of freelancers and redefining "business banking" as proactive admin relief—echoing its origin as a simple app that turned sole trader drudgery into streamlined success.
