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.
KashFlow launched its flagship product, an online tool specifically designed to help owner managers in small businesses manage their accounts, in mid 2005. Since that time its simplicity and ease of use has helped it to quickly win a significant share of the valuable accounting software market and the owner has been seeking major financial backing to ensure it continues to grow and succeed in such a congested market place.
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 https://www.kashflow.com/ . The site also displays examples of feedback from actual users.