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UK-based fintech ANNA secures USD 21 mln for SMB-focused app

Thursday 14 May 2020 15:00 CET | News

ANNA, a UK-based fintech aimed at SMBs and freelancers, has secured a USD 21 mln investment from a single investor, the ABHH Group.

ANNA will be using the funding to expand in Europe. The investment values ANNA at USD 110 million, and the founders keep control of 40% of the company in the deal. The fundraising started before COVID-19 gained track, but its effect on the economy has also had a direct impact on the businesses that ANNA targets as customers: some have seen serious reductions in commercial activity, and some have shuttered their businesses altogether.

ANNA provides a service for smaller enterprises that lets them run a business account to make and receive payments, along with software for invoicing, accounting and managing taxes that is run through a chat interface meant to assist and automate some of the functions (like invoice tracking). ANNA also offers additional services, such as connecting customers to a live accountant during tax season.

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Keywords: ANNA, fintech, SMB, freelancer, investment, ABHH Group, fundraising, covid-19, commercial activity, payments, invoicing, accounting, managing taxes, chat interface, automation, invoice tracking
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech