The Rt. Hon. Lord Young of Graffham, former Secretary of State for Employment and Trade and Industry has invested in the accounting software development company, agreeing to inject a significant amount of capital.
The capital Lord Young has invested will be used to ensure KashFlow goes on to increase its market share and it will also allow it to continue to compete with the bigger and more well established accounting software providers.
Speaking about the investment Lord Young commented, “You only have to look at what KashFlow has already achieved in terms of market penetration against a tough environment to see that with the right funding it will continue to win more market share”.
One of the key factors in my decision to invest was as a direct result of reading the feedback about how effective a product it is and how much it is helping small business owners across the UK”.
Duane Jackson, founder and Managing Director of KashFlow commented, “This is a truly exciting time for the business and I am really proud that the success of our unique product has enabled us to catch the eye of such a well respected City businessman as Lord Young.”.
The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk . The site also displays examples of feedback from actual users.
KashFlow is an online tool specifically designed to help owner managers in small businesses manage their accounts. KashFlow's aim is to take the boredom out of managing a company's accounts and to make the day to day tasks easier to achieve so that less small businesses neglect this area.
KashFlow keeps accounts management simple: it requires no installation, software training or prior knowledge of accountancy.
All users benefit from a free, no obligation 60-day trial. The monthly subscription price is £15.99 a month - including free support and upgrades.
For further editorial information, contact:
Dominique Gillespie
PR Manager
dom@kashflow.co.uk; 020 7403 0101
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In June 2008, KashFlow became the first accounting software package to be certified by PayPal for integration with its payment platform. PayPal and KashFlow now work in partnership to provide a seamless, end-to-end, payment processing and accounting system.
In October 2008 KashFlow won a Business Software Satisfaction award, judged entirely by customer feedback, for the category of small business accounting - beating the likes of Sage 50, Quickbooks Pro and MYOB. Statistics revealed by the awards organisers show that KashFlow has a 70% share of the web-based accounting software market in the UK.
KashFlow has received two rounds of venture capital funding from their now chairman, Lord Young of Graffham. Lord Young is a former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless.
KashFlow is simple to operate, with users instinctively knowing where to click to perform almost any accountancy task.
Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy.
KashFlow has been featured in the likes of the Financial Times, Daily Mail, The Daily Telegraph, The Mail on Sunday, BBC Radio and all the leading accounting titles.
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