Fishbowl: Scooping Up Success
Employment Hero acquires Canadian employment platform Humi in $100M+ global expansion move
CAD $100m+ deal will see Employment Hero expand into the Canadian market, providing thousands of SMEs with a unified platform for managing employment
GLOBAL EMPLOYMENT SOLUTIONS LEADER EMPLOYMENT HERO, HAS TODAY ANNOUNCED IT HAS ENTERED INTO AN AGREEMENT TO ACQUIRE HUMI, CANADA’S TRUSTED EMPLOYMENT PLATFORM, IN A DEAL ESTIMATED TO BE WORTH CAD$100M IN ONE OF THE LARGEST RECENT DEALS IN CANADIAN TECH.
The acquisition will facilitate Employment Hero’s expansion into Canada, a key market for the business as it seeks to broaden its global footprint, which currently serves over 2 million employees and 300,000 SMEs worldwide.
The deal will combine Employment Hero’s global innovation and Employment Op-
erating System (eOS) with Humi’s intimate understanding of the Canadian market, creating a localised solution for businesses.
Thousands of Humi SME customers will soon gain access to an all-in-one platform for payroll, HR and benefits, designed specifically for Canadian businesses. With over one million SMEs in Canada, the goal of this partnership is to become the leader of employment management solutions for SMEs in the region.
For almost a decade, Humi has been building employment solutions to help every Canadian employee feel valued and supported, based on the belief that businesses thrive because they prioritise their people.
Ben Thompson, CEO and co-founder of Employment Hero said: “Humi is an incredible business and Canada is an exciting market. I’m thrilled to join forces with Kevin. He’s a passionate founder and Humi’s success to date is testament to his commitment to Canadian businesses. The Humi team has a deep knowledge of Canadian employment and an impressive track record of supporting businesses in Canada. Humi will remain Canadian-operated, and their team will continue to serve the unique needs of local businesses. I look forward to working with the entire Humi team as we support thousands more Canadian businesses”.
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E’RE EXCITED TO ANNOUNCE THE OFFICIAL LAUNCH OF FISHBOWL DRIVE IN CANADA! BUSINESSES ACROSS THE COUNTRY CAN NOW LEVERAGE THE POWER OF OUR NEXT-GENERATION INVENTORY MANAGEMENT SOLUTION TO SCALE SMARTER AND STREAMLINE OPERATIONS.
Why Fishbowl Drive?
Fishbowl Drive offers ro-
bust features that make it the ultimate solution for Canadian businesses:
• Enhanced Mobile Scanning: Simplify inventory management on the go.
• Smarter Picking: Reduce clicks and save time, ensuring faster order fulfillment.
• Job Expensing: Assign costs to customers or classes for better tracking and reporting.
• Multi-Location Permissions: Manage user access across locations to protect data and simplify
workflows.
• Integration-Ready: Works perfectly with QuickBooks Online, and leading shipping and commerce platforms.
How Drive Benefits Canadian Businesses
Whether you’re managing a single warehouse or scaling across provinces, Fishbowl Drive adapts to your needs.
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OnPay Raises Over $100 Million in Funding
ONPAY, A LEADING PROVIDER OF PAYROLL, HR, AND BENEFITS SOLUTIONS, ANNOUNCED TODAY THAT IT HAS SECURED MORE THAN $100 MILLION IN FUNDING.
The funding consists of a $63 million Series B funding round led by Carrick Capital Partners, with participation from AB Private Credit Investors, the middle market private capital platform of AllianceBernstein, as well as existing investors, and a debt facility provided by MC Credit Partners.
“This funding represents a transformative milestone for OnPay and is a testament to
the hard work and dedication of our team," said Jesse Burgess, CEO of OnPay. "We’re excited to expand our offerings and drive impactful growth for businesses that rely on us for payroll and HR."
OnPay’s mission is to provide modern, accessible payroll and HR solutions that equip small and midsized businesses across the US to manage compliance, streamline operations, and support their teams.
The funding will enable OnPay to scale its capabilities, further invest in product development, expand partnerships and integra-
tions, augment customer success teams, and accelerate its go-to-market strategy. This latest investment marks the increasing market demand for turnkey payroll software.
“OnPay’s superior product and unique service approach position the company to meet the growing demands of SMBs,” added Carrick Capital Partners CoCEO Jim Madden.
FT Partners served as exclusive strategic and financial advisor to OnPay on the equity financing transaction.
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Planyard Updates December 2024
WE’VE ROLLED OUT A SERIES OF UPDATES TO MAKE MANAGING PROJECT FINANCIALS EVEN SMOOTHER. FROM IMPROVED ACCOUNTING PERIOD MANAGEMENT TO POWERFUL NEW PORTFOLIO REPORTS AND ESTIMATION ENHANCEMENTS, THESE FEATURES ARE DESIGNED TO HELP YOU SAVE TIME, REDUCE ERRORS, AND STAY IN CONTROL OF YOUR BUDGETS.
Portfolio Reports: Visualize and Export Your Portfolio Data
We’ve introduced portfolio-level reports to give com-
XU BIWEEKLY - No. 96
Newsdesk:
If you have any news or updates that you would like us to consider for inclusion in the next edition of the XU Biweekly, please email us at: newsdesk@xumagazine.com
CEO: David Hassall
Managing Editor: Wesley Cornell
Chief Revenue Officer: Alex Newson
Account & Partnership Assistant: Robyn Consterdine
Creative Assistant: Aidan McGrath
Advertising: advertising@xumagazine.com
www.xumagazine.com
‘Xero’ is a trademark of Xero Limited (New Zealand). XU Biweekly and XU Magazine is collaboratively produced by an independent group of Xero users and is not affiliated in any way with Xero. All other trademarks are the property of their respective owners.
© XU Magazine Ltd 2014-2025. All rights reserved. No part of this publication may be used or reproduced without the written permission of the publisher. XU Biweekly is published by XU Magazine Ltd (08811842), registered in England and Wales. Registered office: Office 1, Brunswick House, Brunswick Way, Liverpool, L3 4BN, United Kingdom. All information contained in this publication is for information only and is, as far as we are aware, correct at the time of going to press. XU Magazine Ltd cannot accept any responsibility for errors or inaccuracies in such information.
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panies better visibility into their project data. This update allows you to view key financial metrics across all projects directly within Planyard and export the data for further analysis or reporting.
Portfolio reports include:
• Financial metrics: Track overall project costs and profitability.
• Cash flow: Monitor cash movements across your projects.
• Month-over-month trends: Analyze performance changes over time.
• Bid requests: Get a consolidated view of ongoing bids.
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WE’RE PLEASED TO ANNOUNCE THE LAUNCH OF OUR NEW STATEMENT RECONCILIATION FEATURE IN OCERRA AP AUTOMATION, ROLLING OUT NEXT WEEK!
This enhancement replaces the previous statement functionality and brings powerful tools to streamline your accounts payable processes.
Here’s a sneak peek at what’s coming next week:
A Smarter Way to Handle Statements
You can now send statements to the same email address as your invoices. Initially, they will appear in the invoice list, but with a quick “Save as Statement” action, Ocerra will learn to recognise and organise statements from this supplier automatically into the statement folder in the future.
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Paidnice: Adhoc Actions + More Control and Flexiblity Over Policies and Contacts
WE’RE WRAPPING UP THE YEAR WITH EXCITING UPDATES TO PAIDNICE THAT GIVE YOU EVEN MORE FLEXIBILITY ABOUT HOW YOU CONTROL AN REIGN IN YOUR ACCOUNTS RECEIVABLE GOING INTO 2025, HERE'S WHAT'S NEW:
Adhoc Policy Actions
Act on your accounts receivable in real time, create and send one-off actions without the need for setting up an automation.
• Create Interest Charges & Send Statements
• Send email or SMS reminders, or re-send invoices
More Control Over Policies and Contacts
We've added more flexibility over how you tag users for different policy workflows, helping you remove the need for lots of groups + other updates to make managing your overall AR better.
• Advanced filters and tags to exclude users or ac-
SPOTTED ON SOCIAL
tions
• Exclude weekends, and more flexibility settings for when you send and set reminders & grace periods
• Exclude line item calculations on Discounts & Late Fees
• "Mark as Sent" functionality in Xero
• Whitelist contacts by freezing customers at the contact level
Paidnice Named Top Xero App of 2024 in the US
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Maximize revenue with automation: Ignition’s 2025 innovations
LET’S FACE IT—RUNNING A PROFESSIONAL SERVICES BUSINESS ISN’T JUST ABOUT DELIVERING GREAT WORK. IT’S ABOUT FINDING WAYS TO SCALE EFFICIENTLY AND KEEP CASH FLOWING. THAT’S WHERE AUTOMATION COMES IN. PLATFORMS LIKE IGNITION AREN’T JUST CHANGING THE GAME—THEY’RE REWRITING THE RULES FOR HOW PROFESSIONAL SERVICES BUSINESSES SELL, BILL, AND GET PAID.
During our recent webinar, we celebrated the incredible success of Ignition customers in 2024, shared product highlights, and offered a sneak peek at our 2025 product roadmap. Here's a closer look at how Ignition is transforming the
way service businesses operate—and how it can help you do the same.
2024 highlights: Ignition customers achieved big wins
This year, 7,500 Ignition customers generated over $2.7 billion in revenue via the platform and processed over 3 million payment transactions. They used Ignition to engage over 800,000 clients and send nearly 1 million proposals, demonstrating the massive impact of automation on growth and efficiency.
One standout feature launched in 2024 was proposal add-ons. This game-changer enabled customers to upsell addi-
tional services within proposals, generating over $2 million in extra revenue. Another key highlight was Instant Bill for out-of-scope work, which drove an impressive $134 million in additional revenue for customers.
These innovations are just the tip of the iceberg for what Ignition can do to streamline your processes and increase profitability.
Looking ahead: Ignition’s 2025 roadmap
Our 2025 product roadmap is packed with features designed to help businesses close deals faster, increase pricing confidence, and improve cash flow.
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Xero: An update on
payroll in our new plans
IWANTED TO GIVE YOU A QUICK UPDATE ON A DECISION WE’VE MADE ABOUT PAYROLL AFTER LISTENING TO CUSTOMER FEEDBACK.
Earlier this year we launched our new plans: Ignite, Grow, Comprehensive and Ultimate.
We designed the plans to give everyone more access to some of the most useful tools for running a business. For employers, payroll is obviously one of those critical tools. So we decided to build it in as an integral part of the package.
That was the thinking and, as a result, many customers now have access to payroll for the same or lower price. However, we acknowledge this wasn’t right for everyone.
We listened to the feedback: bundling of payroll
doesn’t give you the flexibility you need for additional employees, and we know that has meant some large jumps in pricing. Thank you. Your feedback is critical in helping us get it right for you.
We’re changing things so that you can add employees to any plan for £1.50 per employee, except for Ultimate which will remain at £1.
This decision has just been made, and we’re now working through the technical adjustments needed.
We’ll be in touch in the new year when timing is confirmed. Nothing changes for now. Your existing migration plan still stands. If this still works for you and you want access to the full suite of features within that plan, you don’t need to do anything.
Intuit and Amazon Expand Strategic Partnership
INTUIT INC. (NASDAQ: INTU) AND AMAZON (NASDAQ: AMZN) TODAY ANNOUNCED A MULTI-YEAR STRATEGIC PARTNERSHIP TO EMPOWER MILLIONS OF AMAZON SELLERS TO MANAGE THEIR FINANCES, STAY COMPLIANT, ACCESS CAPITAL, AND GROW THEIR BUSINESS.
By leveraging Intuit’s AI-driven expert platform, millions of Amazon sellers will be able to discover
and access Intuit’s platform seamlessly, benefiting from powerful financial insights like profitability, cash flow, and estimated tax liabilities to fuel their growth.
QuickBooks will become Amazon’s preferred partner for financial management solutions integrated directly in Amazon Seller Central, the Amazon site where sellers manage their businesses.
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Xero Developer update: November 2024
YOUR XERO DEVELOPER NOVEMBER 2024 UPDATE
Best practice tips for API integrations
Integrating the Xero API into your application requires effective API token management. Learn best practice from one of our Developer Evangelists now.
Quick code for handling bulk records
Get some quick and easy code nuggets you can use to make more intuitive, robust API calls and have less processing on your side in our recent blog.
Tips to succeed with the Xero ecosystem
Looking for tips to help
your app succeed in the Xero ecosystem and App Store? Samuel Andrews of the app NiceJob shares his top tips for building with the Xero API.
November’s new apps
Meet the latest apps that have joined the Xero App Store in our recent blog.
Check the changelog
Want to know all the latest updates to our APIs, and find out upcoming changes we have planned? Check the changelog now to see any impacts these updates may have on your integration.
Our Top App lists of 2024 are live
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Joiin Recognised in Xero App Store 2024 Top Apps List
WE’RE THRILLED TO SHARE SOME EXCITING NEWS
– JOIIN HAS BEEN RECOGNISED AS ONE OF THE STANDOUT APPS IN THE XERO APP STORE 2024 TOP APPS LISTS. THIS ACHIEVEMENT REFLECTS THE TRUST AND SUPPORT OF OUR USERS AND PARTNERS THROUGHOUT THE YEAR, AND WE COULDN’T BE PROUDER.
What Are the Xero App Store Top Apps Lists?
Xero’s Top Apps Lists celebrate the innovative solutions that made the biggest impact in 2024. Spanning three unique categories, these lists recognise apps that excel in different areas:
• Most Popular Apps –
Based on subscription growth and total subscriptions in the Xero App Store over the year.
• Most Recommended by Advisors – Highlighting apps that Xero advisors frequently recommend to their clients.
• Most Awarded – A compilation of apps that received Xero App Awards globally in 2024.
Why This Matters
At Joiin, we’re dedicated to simplifying financial reporting and enabling organisations and accountants to consolidate data with ease. Being recognised in the US Xero App Store Top Apps List highlights the value we provide to our customers.
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The new WorkflowMax and Airwallex integration
WHETHER YOU'RE MANAGING A SMALL BUSINESS OR ADVISING CLIENTS ON THE BEST TOOLS TO STREAMLINE THEIR OPERATIONS, FINDING THE RIGHT SOLUTIONS TO SIMPLIFY COMPLEX TASKS IS CRUCIAL. AT WORKFLOWMAX BY BLUEROCK, WE’RE ALWAYS LOOKING FOR WAYS TO HELP YOU STREAMLINE YOUR BUSINESS OPERATIONS AND MAKE MANAGING FINANCES EASIER.
hat’s why we’re thrilled to announce our new integration with Airwallex, a solution that will transform the way you handle payments, improve your cash flow, and save you time on invoicing and reconciliation.
But what exactly does this
Cashflow Manager joins the Reckon Accounting Software family
Reckon has acquired Cashflow Manager and it’s 20,000 clients, joining Reckon’s broader SME customer base, as part of a $8.75M agreement with Money Management Group.
AUSTRALIAN ACCOUNTING SOFTWARE PROVIDER RECKON (ASX:RKN) IS PROUD TO ANNOUNCE THEIR ACQUISITION OF CASHFLOW MANAGER AND OKKE SOFTWARE SOLUTIONS FROM MONEY MANAGEMENT GROUP.
integration mean for your business, and how can it help you get paid faster and more efficiently? Let’s dive into the benefits!
What Does the Integration Mean for You?
In short, the WorkflowMax and Airwallex integration brings you a powerful combination of features that simplify the management of payments. With this integration, you can:
• Accept payments faster: No more waiting for payments to clear. With Airwallex, payments are processed instantly.
• Improve cash flow: Say goodbye to delayed payments and hello to faster transactions.
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The acquisition reinforces Reckon’s commitment to servicing the Australian small business software market and compliments their current solutions portfolio.
E’RE VERY HAPPY TO SHARE THAT HR PARTNER HAS PICKED UP MULTIPLE G2 AWARDS IN THEIR WINTER RELEASE, CELEBRATING OUR GROWTH AND IMPACT ON SMALL BUSINESSES WORLDWIDE.
These achievements wouldn’t have been possible without our incredible customers. Your trust and
Reckon, a leading Australian owned accounting and payroll software company, used by over 100,000 small businesses has acquired Cashflow Manager and okke accounting software solutions from Money Management Group Pty Ltd.
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feedback have helped make HR Partner the reliable HR solution it is today.
Growth in Europe and EMEA
We’re proud to have earned the High Performer Europe and High Performer EMEA awards, highlighting our growing presence across these regions.
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In today’s fast-paced business world, efficiency is everything.
It also means that we work in smaller, dedicated teams that align on weekly execution against short-term targets, while we within the larger company do quarterly planning sessions to maintain focus on the longerterm mission. It’s a fast-paced environment, but this way of working ensures we’re all pulling in the same direction, which is crucial as we scale.
XU:LET’S TALK ABOUT YOUR NEW MIMO GET PAID PRODUCT. COULD YOU EXPLAIN WHAT IT IS AND HOW IT FITS INTO MIMO’S BROADER SUITE OF OFFERINGS?
Q&A
Henrik Grim
Mimo Co-Founder & CEO
XU:CAN YOU BRIEFLY INTRODUCE MIMO AND THE VISION BEHIND ITS CREATION? WHAT PROBLEM WERE YOU AND YOUR CO-FOUNDERS AIMING TO SOLVE IN THE ACCOUNTING AND FINANCE SPACE?
HG:Mimo was founded with the mission to simplify financial management for SMEs, accountants, and bookkeepers by streamlining the way they handle business payments. We saw that many businesses and their accountants & bookkeepers struggle with managing payments—both incoming and outgoing—leading to cash flow problems and inefficiencies in reconciliation processes. So we created Mimo to provide a platform that automates these critical financial operations and helps businesses take control of their cash flow without the headache of manual effort.
XU:CAN YOU TELL US ABOUT THE FOUNDING TEAM BEHIND MIMO? HOW DID YOU ALL COME TOGETHER, AND WHAT UNIQUE SKILLS AND EXPERIENCES DOES EACH CO-FOUNDER BRING TO THE TABLE?
HG:My co-founders and I first met over a decade ago while working at iZettle (now Zettle since its acquisition by PayPal) where we worked on solving payment problems for small businesses. Since then, we’ve gone on to work in different fast-growing tech companies, where we gained deeper expertise in finance, software development, payments, and SME products. What brought us back together was a shared realisation that, despite the advances in fintech, small business owners are still
grappling with many inefficient financial processes. And that’s the very problem we set out to solve with Mimo.
XU: SINCE LAUNCHING MIMO, HOW HAS THE COMPANY EVOLVED, AND HOW DO YOU SEE YOUR PLATFORM FITTING INTO THE BROADER FINANCIAL AND ACCOUNTING ECOSYSTEM?
HG:We just launched publicly 6 months ago, but we’ve already evolved significantly since then. We initially started with our accounts payable product, Mimo Pay, as well as our built-in credit line, Mimo Flex. But we have always known that granting accountants and SMEs with the ability to handle both sides of the cash flow equation was essential. By having everything in one place, it’s easier for businesses to stay on top of their finances, which we think is going to be crucial as we continue to integrate more deeply into the broader financial ecosystem.
XU:WHAT KIND OF COMPANY CULTURE ARE YOU BUILDING AT MIMO, AND HOW DO YOU ENSURE THAT THE TEAM REMAINS ALIGNED WITH YOUR MISSION, ESPECIALLY AS THE COMPANY SCALES?
HG:At Mimo, innovation and putting our users first are at the core of everything we do, so we foster an environment where thinking outside the box and maintaining a customer-centric mindset are key. What that means in practice, is an emphasis on a flat organizational structure, where we hire a few, highly experienced people who act as individual contributors.
HG:Mimo Get Paid is designed to help businesses get paid faster by streamlining their accounts receivable. It automates the process of getting paid, from sending out payment requests and reminders, to reconciling bank transactions. Together with our existing Pay product, which handles accounts payable, Mimo forms a complete cash flow management system, allowing businesses to manage both incoming and outgoing payments from one platform. This not only optimizes the payment cycle but also ensures that businesses have better control over their financial health.
XU:WHAT SPECIFIC PAIN POINTS IN ACCOUNTING AND BOOKKEEPING DOES GET PAID AIM TO SOLVE FOR BUSINESSES AND ACCOUNTANTS?
HG:One of the biggest pain points we’ve identified is the time-consuming nature of reconciling payments and chasing down late invoices, which can be particularly frustrating for SMEs with limited resources. Additionally, it helps accountants by providing real-time visibility into cash flow, making financial reporting and planning more accurate and less labor-intensive.
XU:COULD YOU WALK US THROUGH THE KEY FEATURES OF GET PAID AND HOW IT HELPS STREAMLINE CASH INFLOWS FOR BUSINESSES?
HG:There are several key features in Get Paid designed to get paid faster. First, it allows you to set up automation workflows to send reminders, reducing the need for manual chasing. Second, it allows businesses to offer flexible payment options, including bank transfers, direct debits, and credit cards, which makes it easier for customers to pay on time. Finally, it provides automatic reconciliation of payments across any payment method, so businesses can see at a glance which invoices have been paid and which are still outstanding. These features work together to help businesses get paid faster and manage their cash flow more effectively.
XU:AUTOMATION IS A GROWING TREND IN ACCOUNTING. TO WHAT EXTENT DOES GET PAID LEVERAGE AUTOMATION, AND HOW DOES IT REDUCE MANUAL PROCESSES FOR USERS?
HG:Automation is at the core of what we do. The platform automates many of the traditionally manual processes, such as sending out invoices, following up with reminders, and reconciling payments with bank transactions. This not only saves time but also reduces human error, ensuring that businesses have accurate, up-to-date information about their cash flow. For accountants and bookkeepers, it means less time spent on tedious tasks and more time focusing on strategic financial management.
XU:WITH GET PAID OFFERING MORE AUTOMATION AND CONTROL OVER CASH INFLOWS, DO YOU SEE THE ROLE OF ACCOUNTANTS CHANGING? HOW DO YOU THINK THEY WILL ADAPT
TO THIS NEW TECHNOLOGY?
HG:I think accountants and bookkeepers will continue to play a crucial role, but their focus will shift more toward advisory services and helping clients manage financial planning, as automation takes over many of the manual tasks. Get Paid provides the tools to give accountants more time to have more frequent, high-value engagements with clients, and I believe they’ll embrace this shift as it allows them to provide even greater value.
XU:HOW CAN SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) BENEFIT FROM GET PAID? ARE THERE SPECIFIC FEATURES TAILORED TO ADDRESS THE CHALLENGES THESE BUSINESSES FACE WITH CASH MANAGEMENT?
HG:With Get Paid, SMEs can benefit from automated payment reminders, flexible payment options, and instant reconciliation, greatly minimizing the time and effort required to receive payments. Additionally, through the Mimo platform, they can also access flexible working capital, further supporting healthier cash flow. Given the current economic environment, we know this to be more important than ever.
XU:THE ACCOUNTING TECH SPACE IS COMPETITIVE, WITH MANY TOOLS AIMING TO SIMPLIFY FINANCIAL PROCESSES. HOW DOES GET PAID DIFFERENTIATE ITSELF FROM SIMILAR OFFERINGS IN THE MARKET?
HG:What sets Get Paid apart is that it’s part of a fully integrated platform that handles both accounts payable and accounts receivable. Many tools focus on one side of the equation, but we believe that managing cash flow effectively requires both AP and AR to work seamlessly together. By offering a single platform for all payment-related processes, we provide businesses with a holistic view of their cash flow, making it easier to optimize both sides of the ledger. Further, by offering flexible finance natively embedded, we provide more options for both SMEs and their customers to make payments on terms that suit them and reduce potential negative cash flow impact.
XU:LOOKING AHEAD, WHAT DO YOU THINK THE BROADER IMPLICATIONS OF GET PAID AND SIMILAR TOOLS WILL BE FOR THE ACCOUNTING PROFESSION AS A WHOLE?
HG:From what we’re hearing from our users, the continued advancement of automation is enabling accountants to broaden their offering and take on more clients, while becoming more focused on providing services like financial analysis, strategy, and planning. It’s an exciting time for the profession, and I think automation is only going to elevate the role of accountants in the future.
XU:ARE THERE ANY FUTURE DEVELOPMENTS OR FEATURES IN THE PIPELINE FOR MIMO?
HG:We’re constantly improving and expanding our platform in terms of functionality. In particular, we are working on a set of features around helping Accountants, Bookkeepers and business owners understand and control short-term cash flow in their payments workflow, with new data and finance products embedded into the Mimo platform. We are also working with increasingly large accounting firms, where we are building out broader support for their specific needs.
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Telleroo Welcomes Capital on Tap CEO as Non-Executive Director to Drive Next Phase of Growth
TELLEROO, THE INNOVATIVE PAYMENT
PLATFORM TRANSFORMING FINANCE TEAM WORKFLOWS, IS THRILLED TO ANNOUNCE THE APPOINTMENT OF DAMIAN BRYCHCY, CEO OF CAPITAL ON TAP, AS A NON-EXECUTIVE DIRECTOR. THIS STRATEGIC ADDITION TO THE BOARD COMES AT A PIVOTAL MOMENT AS TELLEROO PREPARES TO SCALE ITS OPERATIONS AND ENHANCE ITS OFFERING FOR ACCOUNTANTS, BOOKKEEPERS, AND INTERNAL FINANCE TEAMS ACROSS THE UK.
Capital on Tap, a leader in small business credit cards and spend management, has experienced remarkable success under Damian Brychcy’s leadership. In 2024, the company reported a 43% year-
on-year increase in income, reaching £313 million, and has now served over 200,000 small business customers.
Damian brings impressive expertise in scaling financial services businesses, leveraging technology to improve customer experiences, and driving sustainable growth.
"Telleroo is on a mission to de-risk the payment processes for businesses, and Damian’s experience and insights will be invaluable as we enter our next phase of growth," said Andrew Cookson, CEO of Telleroo. "Capital on Tap’s incredible success in 2024 demonstrates Damian’s ability to navigate complex challenges and seize growth opportunities.
Over the last 3 years Telleroo has grown massively and with that comes complexity, we’re excited for Damian to
help us navigate this growth while keeping users at the heart of Telleroo."
Damian expressed enthusiasm for joining Telleroo at this critical juncture: “Telleroo is addressing a real pain point for finance teams. When I first met Andrew I was really impressed by the journey he’d been on and his passion for helping his clients send billions of pounds through Telleroo each year. I’m hoping to help contribute to Telleroo’s vision of making business payments seamless and efficient.”
Telleroo’s wallet solution for payments has been designed to help businesses save time, reduce payment errors, and streamline supplier and payroll pay runs.
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Intuit TurboTax Launches First and Only
Product Guaranteeing Tax Refunds 5 Days Early Into Any Bank Account
INTUIT INC. (NASDAQ: INTU), THE GLOBAL FINANCIAL TECHNOLOGY PLATFORM THAT MAKES INTUIT TURBOTAX, CREDIT KARMA, QUICKBOOKS, AND MAILCHIMP, TODAY ANNOUNCED A SUITE OF OFFERINGS DESIGNED TO HELP FILERS ACCESS THEIR TAX REFUNDS FASTER AND MORE AFFORDABLY AS TURBOTAX E-FILE OPENS FOR THE 2024 TAX SEASON.
The offerings include the only do-it-yourself mobile app offer on the market, providing completely free federal and state tax preparation regardless of tax complexity. In addition, TurboTax is providing the first and only fast refund guarantee that delivers federal tax refunds 5 days early no matter the filer’s banking institution, helping consumers get faster access to critical funds.
For millions of Americans, the tax refund, averaging over $3,000, represents the largest paycheck of the year. Getting fast access to those funds can be indispensable.
According to a generational tax survey conducted on behalf of TurboTax by Talker Research, 93% of Gen Z expects to get a refund this year and they plan to use their refund to pay for necessities. In fact, access to faster refunds would mean they are able to
avoid debt fees (20%), pay rent on time (35%), and pay off debt (35%).
"We are proud to continue advancing our faster refund offerings as well as provide free do-it-yourself filing through our mobile app offer to arm our customers with the financial flexibility and security they deserve,” said Executive Vice President and General Manager of Intuit's Consumer Group, Mark Notarainni. “We are giving our customers unparalleled access to their hard-earned money at affordable prices, empowering them to pay bills, pay down debt, and manage daily expenses with greater ease and peace of mind."
Although many companies claim to offer fast refund services, they often do not deliver the funds where consumers need them. Moving money between bank accounts can take up to 5 days. Unlike traditional refund services, TurboTax’s newest 5 Days Early refund offering delivers these vital funds into any U.S. bank account, providing taxpayers expedited access to their money.
TurboTax’s fast money offerings include:
• NEW! 5 Days Early Refund Offering - Consumers can get their federal refund de-
Meshed360: A New ERP Solution with a Focus on Affordability and Simplicity for SMEs
MESHED360, AN INNOVATIVE ERP (ENTERPRISE RESOURCE PLANNING) SOLUTION, HAS OFFICIALLY LAUNCHED, AIMING TO TRANSFORM HOW SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) MANAGE THEIR OPERATIONS. WHILE INITIALLY DEVELOPED WITH SOUTH AFRICAN BUSINESSES IN MIND, MESHED360’S ADAPTABLE DESIGN AND SCALABILITY POSITION IT AS A SOLUTION FOR BUSINESSES GLOBALLY WITH FUTURE ENHANCEMENTS PLANNED TO MEET BROADER INTERNATIONAL NEEDS.
Tailored to address the specific challenges faced by South African SMEs, Meshed360 bridges the gap between affordability and functionality, offering
a robust platform that integrates seamlessly with Xero, the leading cloud-based accounting software.
By securing its place on the Xero App Marketplace, Meshed360 has positioned itself as a trusted partner for businesses already leveraging Xero’s accounting software or those looking to make the move to Xero. This listing ensures that Xero users can now discover and adopt Meshed360 as an integral part of their tech stack, enhancing their overall operational efficiency.
“We’re thrilled to join the Xero App Marketplace,” adds Juan Visser. “This step reflects our dedication to helping businesses simplify their financial and operational processes while driving growth in the South African economy.”
Simplifying Business for SMEs
The idea behind Meshed360 stemmed from a desire to create an ERP solution that truly caters to the needs of SMEs—businesses often overlooked by traditional ERP providers due to cost or complexity.
“Many ERP solutions in the market are either prohibitively expensive or overly complicated for small businesses,” explains Juan Visser, founder and Managing Director at Meshed360. “We wanted to change that by delivering a platform that’s not only affordable but also intuitive and scalable, giving SMEs the tools they need to thrive in competitive markets.”
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livered 5 days before IRS settlement - guaranteed. For a $25 flat fee, TurboTax delivers the refund into any U.S. bank account in the customer’s name whether they file through TurboTax or Credit Karma. Refunds are guaranteed to be delivered at least five days early into a customer's bank account of choice or customers will not be charged the 5 Day Early fee. Intuit will also continue to offer the option to deposit a federal refund into a Credit Karma MoneyTM account, delivered up to 5 days early, for no additional cost.
• Refund Advance - TurboTax will continue to offer its no fee, no interest loan for those filers who need funds immediately. Customers can get approved to receive up to $4,000,6 delivered in as little as 60 secs after IRS acceptance of their tax filing,7 into a Credit Karma MoneyTM account. $0 loan fees, 0% APR, no credit score impact.
"TurboTax's accuracy and maximum refund guarantees, coupled with our faster access to crucial money, deliver an unparalleled experience, especially to those who need fast access to cash,” said Notarainni.
Recurly celebrates 13 G2 Winter 2025 badges: Leadership, ease of use, and fast implementation
WE’RE THRILLED TO ANNOUNCE THAT RECURLY HAS EARNED 13 BADGES IN G2’S WINTER 2025 REPORTS, RANKING IN THE TOP FIVE ACROSS 14 DIFFERENT CATEGORIES!
G2, the world’s largest and most trusted software marketplace, awards top-performing solutions based on authentic customer feedback. Each quarter, G2 evaluates software solutions across numerous categories, using real user reviews to determine which products stand out in areas such as user adoption, ROI, and ease of use.
"We typically see only around 10% of all vendors on G2 appear in our quarterly Market Reports, so it’s a major accomplishment that
Recurly has been recognized this season, Winter 2025,” said Sara Rossio, Chief Product Officer at G2. “We extend our congratulations to Recurly for receiving praise through authentic customer reviews, powering its rankings on the world's largest and most trusted software marketplace."
Three Leader and three High Performer badges
Qualifying for 123 reports, Recurly is especially proud to have earned three Leader badges and three High Performer badges this season. But these badges are more than just awards — they’re a testament to our ability to deliver exceptional customer satisfaction and best-in-class solutions across global markets.
Leader Badges
• Leader - EMEA (Subscription Revenue Management)
• Leader - Mid-Market (Subscription Billing)
• Leader - EMEA (Subscription Management)
High Performer Badges
• High Performer - EMEA (Small Business, Subscription Revenue Management)
• High Performer - EMEA (Small Business, Subscription Management)
• High Performer - Winter (Payment)
Easiest to Administer and Fastest Implementation
gagement letters, billing management and workflow automation.
XU:WHAT SPECIFIC PROBLEM DOES SOCKET SOLVE, AND HOW DID YOU IDENTIFY THIS NEED IN THE MARKET?
JG:We’ve set out to spearhead the problem: The proposal should define the scope of the services agreed between client and accountant. Except right now it doesn’t!
We have a secret sauce: Alongside Socket, I manage an accounting firm FD Works, which I continued to manage part-time alongside Xavier Analytics & Dext. This enables us to understand the problems that Accountants and Bookkeepers face, and run experiments that provide blueprints for future ideas.
XU:HOW HAS SOCKET EVOLVED SINCE ITS INCEPTION, AND WHAT ARE SOME OF THE KEY MILESTONES THE COMPANY HAS ACHIEVED SO FAR?
Q&A
Jonathan Gaunt
Socket Co-Founder
XU:COULD YOU TELL US A BIT ABOUT YOUR BACKGROUND AND HOW IT LED YOU TO CO-FOUND SOCKET?
JG:My background is that I’m a Chartered Management Accountant, I worked in ‘Corporate World’ for nearly 20 years, majority of time at Lloyds Banking Group. I’ve always been fascinated by businesses and in 2012, with the emergence of cloud computing and Xero, I realised that I could provide small businesses with the same level of finance support that a large multinational business has.
We work with ambitious businesses. One of our clients were software developers and I made a random off the cuff comment “I wish I could code”. The rest is history, we developed Xavier Analytics, we won Xero’s Emerging App in 2020 and we were acquired by ReceiptBank. Whilst there we had great fun, we learnt a lot and we helped with the rebrand to Dext and Xavier became Dext Precision.
James, Rich and myself exited Dext at the end 2022. We had an itch to scratch and wanted to build another start-up focused on Accountants and Bookkeepers.
XU:WHAT INSPIRED YOU TO VENTURE INTO THE TECH INDUSTRY, AND WHAT WERE SOME OF THE PIVOTAL MOMENTS IN YOUR CAREER THAT LED TO THE CREATION OF SOCKET?
JG:
I’ve always tinkered in technology, I say ‘tinker’ as I’ve used the tools I knew such as a spreadsheet and writing
long formulas, that connected workflows to make our practice more efficient and a better experience for everyone involved. More recently I’ve adopted no-code tools and I’ve taught myself to write some basic code. It’s not pretty.
Building software is hard. To venture into the tech industry you’ve got to have a couple of things.
A great idea. We didn’t have any specific problem that we wanted to solve, instead we spent the first 6 months of 2023, working in FD Works, experimenting and exploring ideas, and having lots of conversations with other Accountants and Bookkeepers.
We started to narrow our thinking to resource management and scheduling - how could we move away from tracking time, to measuring results. To do this we need the information from the proposal.
Either lots of money or the skills to execute. We’ve got the perfect team.
XU:FOR THOSE WHO MIGHT NOT BE FAMILIAR, CAN YOU EXPLAIN WHAT SOCKET IS AND WHAT IT AIMS TO ACHIEVE?
JG:
Socket’s mission is to empower accounting and bookkeeping firms to effortlessly convert prospects, seamlessly onboard clients, banish scope creep and do this while truly understanding the profitability of each service for each client.
We are starting with pricing, proposals, en-
JG:Our approach has been to work with a small number of clients, learn as much as we can, implement what we learnt and then expand who we work with.
FD Works was Socket’s first customer in August 2023, they were able to migrate away from their existing tools - we learnt a lot.
Accounting and bookkeeping is complex and with very little standardisation of processes it becomes complicated. By curating a waitlist of interested people, and understanding their tech stack we were able to understand who used what, what systems were popular, what were the main pain points and focus on solving problems for specific customer groups.
Getting to Xerocon in July 2024 was a significant milestone for us, our option to show what we’d been working on.
We’re now fully open for business.
XU:CAN YOU TELL US ABOUT THE TEAM BEHIND SOCKET? HOW DID YOU GO ABOUT ASSEMBLING YOUR TEAM, AND WHAT QUALITIES DO YOU LOOK FOR IN POTENTIAL TEAM MEMBERS?
JG:The founding team is James, Rich and myself - we’ve worked together in the past and our skills compliment. James has a background in Software Engineering and building scalable systems, Rich also has background in Software and Product Engineering, he’ll ask lots of questions: “Why are you doing that? Then what?”. They’d make great accountants.
The team has grown. We’ve worked with Ben and Oliver in the past and Emma (who we’ve known for a long time) is a bit of a unicorn- she’s an accountant and has worked in the accounting tech space.
What makes a great team member? Right attitude is high on the list.
XU:HOW DO YOU ENSURE THAT YOUR TEAM STAYS INNOVATIVE AND MOTIVATED, ESPECIALLY IN A COMPETITIVE TECH LANDSCAPE?
JG:We’ve very hands-on with our Accounting and Bookkeeping partners and this helps us to understand their problems, what they are doing to manage the problem now (often a spreadsheet) and what else they are doing (the what next).
We shape the problem and then we give
our developers the space to be creative and solve the problem.
Often we’ll make a change into production, quicker than it would to write up a full spec and create a mock-up. But we don't cut corners, and iterate quickly to produce high quality software.
XU:WHAT SETS SOCKET APART FROM OTHER SIMILAR APPS AND SOLUTIONS IN THE MARKETPLACE?
JG:We’re trying to make it as simple as possible for a wider group of people in the firm to get involved, with the system doing the heavy lifting. A successful firm of the future needs an intelligent system to manage client relationships at scale.
What does this mean? Making use of adjacent data sources, getting data directly from Companies House and integrations with practice management tools, making it easy to apply scope-adjustments. Our API enables the proposal data to be unlocked and made available to the wider workflow - the very problem that started us on this journey.
XU:WHAT ARE YOUR LONG-TERM GOALS FOR SOCKET, AND WHERE DO YOU SEE THE COMPANY IN THE NEXT FEW YEARS?
JG:We're buzzing with excitement about where we're heading. Our roadmap is packed with features that we can't wait to roll out.
Socket Engage, our take on Engagement Letter management that’s as powerful as it is simple. We’re incorporating all the latest best practices with automatic updates, so you can stay focused on what matters most—your clients.
And when it comes to turning prospects into clients, Socket Onboard will be your new best friend. We’re integrating with AML, Risk Assessment, and Work Management systems to automate the entire workflow.
We’re also playing nicely with your favourite tools. Think seamless scheduling, work management, collaboration, and a must is using APIs. It’s all about making automation work for you, without the headaches.
We’re making it easier than ever to manage leads—whether they come from Hubspot or Zapier. Picture a smooth sales pipeline with all the discovery data you need right at your fingertips, feeding seamlessly into proposals.
Geography wise, we’ve focused on the UK to start with but we plan to take it globally, we learnt a lot from our time at Dext and this has been factored into Socket from day 1.
XU:ARE THERE ANY UPCOMING FEATURES OR DEVELOPMENTS THAT YOU'RE PARTICULARLY EXCITED ABOUT AND CAN SHARE WITH US?
JG:Our plans for Socket are ambitious - in the short term, we got some exciting features planned.
Socket Engage will be launched soon. We’ve teamed up with an industry expert to develop and maintain best practice Engagement Letters that meets the requirements of the professional bodies.
We’ll enable the management of bulk price changes - simply change the underlying price of a service and then select which clients you want to apply that price change to and then inform them.
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UPCOMING EVENTS
UPCOMING APAC WEBINARS
UPCOMING WEBINAR EVENTS
From 4 Hours to 4 Minutes
How Spire Accounting Uses QuickBooks Tax to Streamline Year-End Compliance
By Damien Greathead, Accounting and Advisor Group Lead at Intuit QuickBooks
NERANG, QUEENSLAND-BASED SPIRE ACCOUNTING WAS FIRST ESTABLISHED IN 2016, WHEN THEN-SPORTS MARKETER KEN BENSLEY AND HIS ACCOUNTANT
JOEL GURCIULLO DECIDED TO GO INTO BUSINESS TOGETHER.
Fast-forward eight years, and they’ve built a thriving six-person firm known for its personable, laid-back approach. Spire specialises in small and medium-sized construction businesses and their owners, helping them stay compliant, grow the business, or manage their SMSFs so they can save for retirement.
However, Spire’s journey wasn't always easy. The firm originally used MYOB Accounting Office (AO) to handle its clients’ tax work—but this caused endless headaches.
Spire needed a new solution. That’s when it came across QuickBooks Tax, powered by LodgeiT.
A Time-Consuming Tax Nightmare
Despite their fast-moving ethos, Spire’s tax software and subsequent processes were anything but. According to Joel, “The MYOB portal was slow, complex, and unintuitive”. Worse still, it caused the team and its clients to waste countless hours each month on admin.
One specific pain point was MYOB AO required clients to log in with a password to provide digital signatures. Unfortunately, clients kept on forgetting their passwords or thinking they needed to create a MYOB account themselves to access their files. There was constant confusion.
What’s more, there was no way to automate approval reminders within the MYOB AO platform—meaning the team had to spend a significant portion of each week manually chasing client approvals. As Joel describes, "We were constantly hounding clients for signatures. It was a nightmare".
The team often waited weeks to get all-important sign-offs to complete reports. Spire quickly realised it couldn’t continue working this way and needed to think differently. So, it decided to look for another alternative solution—one that could
help it save precious time.
“The Best In The Market”: Embracing QuickBooks Tax
Ken and Joel decided to give QuickBooks Tax a trial run after hearing about its evolution over the years. Ken was immediately impressed. “It was absolutely remarkable”
Eager to see if others felt the same, he asked the rest of his team to test it out themselves. They were just as enthusiastic as he was. “MYOB AO was archaic compared to QuickBooks Tax”, says Kieran Dingley, one of Spire’s accountants. “It was generations behind”.
QuickBooks Tax, powered by LodgeiT, uses two-factor authentication (2FA). This means increased security, no more lost passwords, and enhanced security for both Spire and its clients. What’s more, it integrates directly with QuickBooks’ Prep for Taxes tool, saving hours on creating financial statements.
Bearing these features and the team’s feedback in mind, Spire decided to pivot to QuickBooks Tax.
How QuickBooks Tax Helps Spire Effortlessly Create Financial Statements
Unlike other reporting systems, QuickBooks Tax uses a single import and classification exercise to automatically populate Working Papers, Tax Forms, and Financial Statements.
With features like automated reminders, instant data-sharing, and a user-friendly interface, QuickBooks Tax eliminates the headaches associated with generating financial statements. “It’s an absolute game-changer” explains Ken.
Automated Reminders
Spire has reduced its return approval wait times, improved the client experience, and lightened the administrative burden on their team thanks to QuickBooks Tax’s automated reminders.
What’s more, QuickBooks Tax automatically populates follow-up emails—all the team needs to do is send them off. Then, clients can approve with one click. No more pesky passwords they need to remember. “It’s
made life just so much easier on our end”, says Joel.
QuickBooks Tax users receive unlimited e-signatures included, as one of the benefits in the ProAdvisor Program. Helping accelerate client approvals, you can see at a glance which clients have approved returns, and who you’re waiting on. You can even automate or send reminders to sign in bulk.
Having switched over to QuickBooks Tax, Spire only has to follow up manually with 5% of its clients. This is a far cry from the 30 - 40% that was the norm when the firm used MYOB AO.
Instant Data-Sharing
QuickBooks Tax automatically prefills tax forms and creates corresponding financial statements using data imported directly from QuickBooks’ Prep for Taxes tool. This virtually eliminates the need for the team to rekey data, meaning financial statements that used to take half a day to prepare now only take a couple of minutes.
“You can build a set of financial statements in three or four minutes, as opposed to three or four hours” explains Ken.
And while QuickBooks Tax streamlines the process for importing client data from QuickBooks Online, it also lets you import client-side financials from clients using Xero, MYOB, Reckon and many other platforms—even Microsoft Excel.
User-Friendly Interface
The Spire team find QuickBooks Tax’s dashboard feature particularly useful when it comes to maintaining an up-to-date view of all live tasks. The dashboard view means the team can see immediately if any clients have paperwork outstanding, or need an automated reminder to submit their data.
Making Tax Time Less Taxing
QuickBooks Tax, powered by LodgeiT, has transformed Spire’s operations. Thanks to its automated reminders, easy authentication, and effortless integrations, the firm now spends significantly less time on admin and data entry—all while providing a smoother client experience.
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Scooping Up Success
By Craig Scarr, Fishbowl Marketing Director, APAC
WITH NEW TREND DATA REVEALING THAT ALMOST HALF (46%) OF FOOD DISTRIBUTION AND MANUFACTURING BUSINESSES WILL THIS YEAR BE INVESTING IN TIGHTER INVENTORY MANAGEMENT SYSTEMS, SAJANI CUPS AND CONES TURNS TO FISHBOWL FOR THE WAY FORWARD.
The recent CommBank Manufacturing Food & Drink Insights Report found that producers and distributors have navigated an operating environment marked by higher costs, constrained skills, and fluctuating customer demands by prioritising productivity.
When over 1 in 3 (37%) of food distributors and manufacturers confirm their biggest challenge is ineffective operating systems, many are turning to technology for the fix.
For almost half, they’re investing in new technology and software (46%) alongside new operating systems (49%).
Sajani Cups and Cones choose new inventory technology to meet challenges
When experienced business owner, Sue Boor, General Manager of Sajani Cups and Cones bought this family owned business she knew change was immediately needed.
“We knew this business had great potential but not a lot of structure. So we had utilised Fishbowl at another business that we have and it worked extremely well there, so we decided to utilise Fishbowl here in Sajani, which has proven to be amazing.”
There was an immediate focus on improving stock
management, streamlining purchasing, and winning back customer respect lost from previous stockout issues.
“We have thousands of types of stock, and one of the major issues of having a business with a lot of parts, is that it’s extremely difficult to keep on top of all those parts and make sure that we've got enough stock to be able to supply our customers,” said Sue.
“The last year has saved us thousands of dollars because we don't have any issues with not having things in stock anymore. Our customers are confident that we're able to supply them with the goods that they need, when they actually need them.
“Any staff member at any time can see what's on order. Fishbowl gives me the flexibility and the knowledge to be able to answer questions at any time.
“Everything is more efficient. It has probably cut off probably two to three hours a day in staff hours because its streamlined our business incredibly.”
Significant growth and importing precision achieved
“Fishbowl is a very powerful tool. It gives me the information I need when I want it. It gives my staff members the information they need when they want it and that's the most powerful tool that you can have in a business,” continued Sue.
“Fishbowl has allowed us to actually get true costs of the products that we're selling. We import and now there’s no guesswork on exchange rates and pricing anymore.
“Fishbowl has also increased our sales because we have become a reliable supplier. When we purchased the business we probably had about 3,000 line items. We've expanded that to around about 5,500. Without Fishbowl, we wouldn't have been able to do that.”
Staff empowered with confidence to master their work
Head gelato chef at Sajani Cups and Cones, Jean Aveline, or Frenchie as he’s known, recounts the relief that Fishbowl has given him to do his job well.
“I use Fishbowl on a daily basis to update the system so we know how much stock we have,” said Frenchie.
“Fishbowl has just made everything so much more efficient. Your customers can see what stock you have, they can order from there. Your workers know what's in there. It helps with the visibility of stock and communication all across the board.”
“The support for Fishbowl was easy. It was nice and easy to use. Everyone just showed me what I needed to do. And yeah, it's pretty hassle free.”
New technology ever evolving and Fishbowl at the forefront of AI
As is the nature of any technology adoption, the landscape is ever changing and along with it businesses are seeing the opportunities to continually improve. The food and drink industry is no exception, with the CommBank report citing emerging technologies set to make its biggest impact in the next five years.
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Sajani Cups and Cones Freezes Out Stock Issues with Fishbowl
Sharesight product updates – January 2025
ALTHOUGH DECEMBER IS ALWAYS A SHORT MONTH FOR US, WE DID MANAGE TO ROLL OUT THE FINAL CHANGES REQUIRED BEFORE OUR FULL LAUNCH OF THE DRAWDOWN RISK REPORT LATER THIS MONTH.
We also rounded out what was a massive year of expanding our broker support with improvements to, or entirely new support for 29 brokers globally.
New functionality / enhancements
• Introduced benchmarking to our new drawdown risk report
• Released the new drawdown risk report to our investor plan (beta) customers
• Introduced a portfolio average indicator to the drawdown risk report chart
• Added both PDF and XLXS download functions onto the drawdown
PayPal Ventures Invests in Bureau
Risk intelligence platform sees 3x revenue growth as the surge in sophisticated fraud attacks drive demand for AI-powered prevention.
Arisk report
• Introduced the ability to search for cash accounts within the holding search dropdown.
Broker import functionality
• Support for 13 broker trade confirmations
• Support for five new broker trade files
• Expanded file support for 11 existing brokers.
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Revolut UK builds out its Board with two new appointments
FIONA FRY, A QUALIFIED CHARTERED ACCOUNTANT, HAS BUILT A CAREER SPANNING MORE THAN 40 YEARS IN PROFESSIONAL SERVICES. FIONA WAS A PARTNER AT KPMG FOR OVER 23 YEARS, WHERE SHE FOCUSED ON GOVERNANCE AND CULTURE, PRIMARILY IN THE RETAIL BANKING SECTOR. SHE ALSO SPENT TWO YEARS ON THE FINANCIAL CONDUCT AUTHORITY’S FINANCIAL SERVICES CONSUMER PANEL.
Sir Peter Estlin, who served as Lord Mayor of the City of London in 2018/19, qualified as a chartered accountant in 1985 and became a Partner at Coopers & Lybrand in 1993. He has held senior positions across
the banking sector including at Salomon Brothers, which became part of Citigroup, before moving to Barclays as Group Financial Controller and later CFO of the Corporate and Retail Bank, as well as Acting Group CFO.
Richard Holmes, Chairman of Revolut UK, added: “I am delighted to welcome Fiona and Peter to the Board of Revolut UK. Building a Board of experienced financial services talent to serve as Independent Non-Executive Directors is an important step as we seek a full banking licence to better serve the growing UK customer base.”
Sir Peter Estlin, commented:“I’m thrilled to join Revolut UK’s Board at such an exciting time, as we continue to transform financial servic-
es and empower customers across the country.”
Fiona Fry, commented:
“Revolut UK is on a mission to be an innovator across the financial services. It is a great privilege to join the team and help deliver for our customers.”
Fiona is currently a Non-Executive Director and Chair of the Board Risk Committee at Aviva, as well as Chair of the Board Risk & Compliance Committee at AJ Bell plc. Sir Peter is currently Chair of Vanquis Banking Group plc; non-executive director, Rothschild & Co, Chairing the group audit committee and serving on group risk and remuneration committees.
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I ISN’T JUST MAKING FRAUD SMARTER – IT'S MAKING IT NEARLY IMPOSSIBLE TO CATCH. WITH GLOBAL LOSSES HITTING $486B ANNUALLY, BUREAU TODAY ANNOUNCED $30M IN SERIES B TO LEVEL THE PLAYING FIELD. A LEADING RISK INTELLIGENCE PLATFORM, WHICH HAS SEEN ITS REVENUE GROW 3X SINCE IT’S LAST FUNDRAISE, IS ARMING BUSINESSES WITH AI TO COMBAT THE EXPONENTIAL RISE IN SOPHISTICATED FRAUD ATTACKS WORLDWIDE.
The round was led by Sorenson Capital with participation from PayPal Ventures and continued support from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures. The funding will accelerate Bureau's product expansion into new use-cases, and geographical expansion to several
new markets worldwide to meet a significant surge in global demand. For founder and CEO Ranjan Reddy, the mission is personal. After falling victim to cyber fraud himself, he built Bureau to transform how businesses verify digital identities and detect fraud. Through his experience building Qubecell and Boku Identity, Reddy recognized that "Who are you?" and "Can I trust you?" are fundamental questions every digital company must answer at each step of the customer journey.
"As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud," explained Ranjan Reddy, CEO and Founder. Money mule accounts, deepfake identities, account takeover, and payment fraud have surged with sophisticated AI-powered tools, impacting every corner of the digital economy. Bureau's proprietary technology, powered by Graph
Neural Networks, neutralizes these threats to the digital economy. Traditionally, compliance, fraud, security, and credit risks have been siloed in companies and served by multiple point solutions in each domain. Bureau's platform brings together device intelligence, behavioral AI, identity data, and predictive modeling to deliver contextual fraud prevention that goes beyond traditional rule-based systems. The company's proprietary identity knowledge graph now contains over half a billion identities and behavioral patterns, providing real-time risk intelligence across the entire customer lifecycle.
"Bureau utilizes a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users,” said Rob Rueckert, a Partner at Sorenson Capital.
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Newcastle Accountancy Firm Calls for Further Support for North East Businesses
A
LEADING REGIONAL ACCOUNTANCY FIRM IS TODAY CALLING FOR FURTHER SUPPORT FOR BUSINESSES ACROSS THE NORTH EAST, AS A NEW SURVEY REVEALS THAT A MAJORITY OF ACCOUNTANTS NATIONWIDE BELIEVE BUSINESSES NEED MORE SUPPORT FROM GOVERNMENT AND THE BANKING SECTOR.
Tennick Accountants was founded by Graeme Tennick in 2012 and now supports more than 200 businesses across the North East from its base in Cramlington.
Commenting on the state of regional business as we
look towards 2025, Graeme Tennick said:
“The last few years have been difficult for many businesses across the North East as interest rates and low consumer confidence have impacted the local economy. As such, the sentiment I’m getting from my clients at the moment is caution, with businesses in the region putting off business decisions around hiring, expansion, M&A and investment.”
The comments come following the recent Autumn Statement which has left many businesses feeling nervous about increases in National Insurance and
the minimum wage. A national survey of accountants undertaken by leading business bank, Allica Bank, reveals that 21% of accountants believe there’s more the government could do to support businesses.
Responding to the survey, undertaken in the weeks following the Autumn Statement, nearly a third (29%) of the 74 accountancy firms polled also believe the policies announced in the Autumn Statement will make business harder. While 45% believe that businesses are not getting the support they need from the banking sector.
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