Hnry, a New Zealand-based accounting software provider for sole traders, has closed its $35M Series B. The company offers a digital accounting platform that takes care of tax lodgements, payments, invoicing and expense tracking. It operates on a pay-as-you-go model with on-demand, in-person customer support.
AirTee Ventures led the investment, with Athletic Ventures and Left Lane Captial coming in. This round brings Hnry's total funding to $53M since it was founded in 2016. Left Lane Capital led its Series A with EVP leading its Seed round, according to Crunchbase. The company was founded out of frustration with how long it takes sole traders to manage their financials and submit tax returns. Hrny has spat out some impressive growth, touting tripling its revenue and 4x'ing its customer base in the past year.
The NZ company has its sights on Australia, recently opening a new office set up in Sydney with 25 employees. This satellite team is supported by 55 team members in Wellington, which is likely to double in the next 12 months. The pricing costs 1% of a sole trader's income, caps out at $1500, and even tax-deducts itself when filing.