Startup Funding Club has led a £250,000 seed round into fintech company Ember. The accounting software startup strives to make business simpler for contractors and SMEs by automating the entirety of the business administration and tax process.
Ember believes in an economy powered by small business and is creating a future where independent workers and companies can thrive without the need for an accountant. Its software helps businesses manage their financial obligations by automating the entire accounting process from bank transaction through to tax submission. Ember allows its users to see all the relevant numbers in one central feed – and even replaces technical terms for language that is easy to understand.
Ember has raised £250,000 in a round led by Startup Funding Club alongside a small group of angel investors. This capital will help accelerate product development and ignite the fintech company’s launch nationwide.
Carmelo Spanó, Investment Manager at SFC, commented: “We are very excited about this investment. Ember does an excellent job of breaking down the mysteries and shedding some light and clarity onto the complexities of accounting systems through an easy to use software and we believe that the company can make a real impact on small businesses. It is easily accessible and easy to understand – not full of jargon. Ember’s processes, tools and real-time notifications are more practical than the systems of traditional accounting softwares that rely on old fashioned processes and people.”
“It has been a rich and rewarding journey so far – recognising a gap, aligning on a vision and getting stuck into building the product – and now we are ready and excited to take Ember to the next level.” Said Dan Hogan, co-founder of Ember. “We have so many big ideas about how to alleviate the stress of tax and accounting compliance for independent contractors. With the backing and support of our investors, we cannot wait to unlock their potential and bring them to life.”