Coconut
The accounting & tax app for self-employed people
- 21-100 employees
- Fintech
- B2C
- B2B
- Banking
- Bloomsbury, London, UK
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Company mission
Their mission is to free millions of people from business admin worldwide, by combining banking and accounting into one simple product.
Our take
Coconut are targeting freelancers and small business owners instead of taking on the whole space (like Starling or Monzo). This focus should help them to win over customers who can see the product has been designed with them specifically in mind.
Coconut pivoted from current accounts and instead doubled down on bank statement feeds through open banking. This change of approach means that any freelancer or small business can use Coconut regardless of existing banking arrangements.
The company have introduced a new app as part of their open banking pivot. They have also partnered with SME challenger, Tide, combining their specialisms so the self employed can connect their Tide accounts to Coconut through open banking.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- 25 days holiday (excl. bank holidays)
- Work from home opportunities
Funding (last 2 of 5 rounds)
Nov 2022
$0.6m
SEED
Jul 2021
$1.3m
SEED
Total funding: $9.2m
This company has top investors
Leadership
Sam O'Connor
(CEO)Founded ProConfirm (making audit confirmations faster), eventually acquired by Confirmation.com where Sam was a Commercial Director. Started career in audit at PwC
Adam Goodall
(Co-founder)Founded ProConfirm with Sam (a signal of the strength of their partnership). Started career in audit at PwC