Overfunding: Bookkeeping and Tax Automation Fintech Coconut Secures £918K+ via Crowdcube
July 4, 2021 @ 7:40 pm By Omar Faridi
Coconut, a Fintech firm that automates bookkeeping and tax for sole traders, a market of 3.5 million in the UK, has raised £918,370 from 1202 investors (at the time of writing while having a £700,000 target) through a campaign on Crowdcube.
Coconut reports a pre-money valuation of £18,000,000, 4.85% equity, and a £0.02 share price. Currently, there are 18 days left in the company’s campaign.
As noted by the Coconut team:
“Starting a self-employed business is easier than ever, but the finance tools available haven’t improved for decades. Coconut automates bookkeeping & tax for sole traders, a market of 3.5m in the UK. With 8k paying customers and 174% revenue growth in 2020, Coconut is on a mission to transform sole trader finances.”
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