The startup has been building an accounting automation application for freelancers and small companies. Singular is leading this funding round. Existing investors Alven and Kerala are also investing once again. Overall, Indy has managed to attract 40,000 clients who pay a monthly subscription fee to access the service.
Indy first started with a product specifically designed for freelancers, self-employed people, doctors, architects, lawyers, etc. It can help you replace your accountant altogether. You first connect the service to your bank account. Indy then imports all your transactions and tries to tag and categorise as many transactions as possible.
You can go back and add missing data. You also can add receipts or invoices right next to your transactions. Once this is done, you know how much VAT you’re supposed to get back at the end of the year. Indy then automatically fills out administrative forms based on your data. You can then download your tax documents or send them directly from Indy.
You can also use the platform to get an overview of your business. You can see your corporate revenue, track your expenses, and see how much you earn per year based on personal expenses and your own pay.
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