Capitalise.com, the financial marketplace for accountants, has been chosen to receive a grant from Innovate UK. The only accountancy technology provider to be issued a grant, Capitalise will use the funding to support the development of its award-winning credit and health report for businesses, Capitalise Monitor, integrating new artificial intelligence-driven functionality. Capitalise Monitor enables the analysis of multiple banking facilities used by business owners, enabling SMEs to benefit from best of breed solutions derived from a number of different sources.
In addition, Capitalise’s chief product officer and co-founder, Ollie Maitland, has been named alongside Google, Apple and Xero, on the Commercial APIs Work Group for Open Banking. In this role, Ollie hopes to inform the future of the use of the technology in accountancy.
This news follows Capitalise’s successful £3.5m Series A investment round in February this year. The round was led by QED Investors, the leading US Fintech venture capital firm, and supported by existing investor Hambro Perks, as well as Revolut investors, Gauss Ventures.