A startup creating an ‘operating system for small accounting firms’ has raised £2.25 million in seed funding.
Pixie says it is creating a simpler approach to practice management and workflow automation, allowing bookkeeping firms to scale more easily.
Triple Point Ventures led the round, with the participation of Seedcamp, MMC Ventures, and serial entrepreneurs and angel investors including Duane Jackson (Kashflow, Staffology), Will Neale and Chris Adelsbach.
The startup was founded in 2019 by Celso Pinto after he identified how difficult it is for small firms to adopt traditional practice management applications.
“Accountants and bookkeepers are the unsung heroes of thriving small business communities everywhere, working hard to ensure their clients remain compliant, organised and successful,” said Pinto.
“But through conversations with hundreds of accountants, I noticed how challenging it is to manage their own firms: collaborating with slow clients, manually tracking hundreds of deadlines, and then creating processes for their team quickly turning into a manual and very frustrating process.
“Small firms really struggle to adopt traditional practice management applications due to the software’s complex nature, and we see a space for a simpler approach that is easy to use, allows small firms to hit the ground running and quickly lay the foundations that help them grow and keep delighting their customers.”
The new funds will be used to expand the team, increase its platform’s features and integrations and support growing demand as small firms accelerate the adoption of cloud-based practice management software.
More than 1,100 accountants and bookkeepers around the world rely on Pixie daily to manage work more effectively and scale their firms.
“We’re over the moon to have the backing of such an incredible line-up of investors who share our vision and ambition to build the operating system for small accounting and bookkeeping firms,” said Pinto.
“The funding gives us a fantastic opportunity to expand our business and deliver more innovations to our platform.”