{"id":42786,"date":"2023-10-20T15:23:46","date_gmt":"2023-10-20T15:23:46","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/freelance-accounting-startup-accodex-raises-180000-startupsmart\/"},"modified":"2023-10-20T15:23:46","modified_gmt":"2023-10-20T15:23:46","slug":"freelance-accounting-startup-accodex-raises-180000-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/freelance-accounting-startup-accodex-raises-180000-startupsmart\/","title":{"rendered":"Freelance accounting startup Accodex raises $180,000 – StartupSmart"},"content":{"rendered":"
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Adelaide-based startup Accodex, a cloud-based platform for freelance accountants, has raised $180,000 in seed funding from investors in Australia and the United States.<\/p>\n

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Accodex has built a platform which helps freelance accountants manage everything from financial statements and tax returns, to management reports and strategy meetings. It was while struggling to deal with the workload as a freelance accountant that co-founder Chris Hooper saw the need for such a service.<\/p>\n

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\u201cFreelance accountants who need some support on the backend, or with administration, can plugin to the Accodex platform. Then the only job you the have is getting customers and servicing those customers,\u201d he says.<\/p>\n

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Investors include Venture Catalysts\u2019<\/a> Harry Schiff, technology investors Shawn Webster and Ben Longstaff, and innovation consultant Aaron Lepoidevin.<\/p>\n

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\u201cI\u2019ve been watching these guys for a while, so when I saw they were raising to expand in North America, I jumped at the opportunity,\u201d Schiff says.<\/p>\n

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Accodex opened an office in the United States last month and the capital raised will be used to build capacity so as the startup\u2019s platform can scale. It\u2019s based on Xero\u2019s cloud-based accounting software, which Hooper says was a calculated risk.<\/p>\n

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\u201cIt costs about $200 million at least to start an accounting software company these days, so there\u2019s no way we were going to reinvent the wheel in that respect. Xero is already killing it,\u201d Hooper says with a laugh.<\/p>\n

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\u201cThere\u2019s always the risk of Xero shutting down their API. The reality is we have a good relationship with them. We\u2019re totally complementary. We solve a big problem for Xero and vice versa.\u201d<\/p>\n

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Xero\u2019s US expansion didn\u2019t go as smoothly as expected, co-founder and CEO Rod Drury recently said<\/a> the market was far more conservative than expected and reluctant to move to the cloud. Hooper says that conservative market might actually be a positive for Accodex\u2019s expansion plans.<\/p>\n

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\u201cBecause we\u2019re targeting young freelance accountants, they\u2019re working for firms that are afraid of the technology. But they\u2019re champing at the bit to get their hands on it,\u201d he says.<\/p>\n

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Raising your<\/i> first round of capital<\/i><\/a>? Starting a<\/i> crowdfunding campaign<\/i><\/a>? Want to grow your business<\/i> with Instagram?<\/i><\/a> StartupSmart School can help.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Adelaide-based startup Accodex, a cloud-based platform for freelance accountants, has raised $180,000 in seed funding from investors in Australia and<\/p>\n","protected":false},"author":2,"featured_media":60139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42786"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=42786"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60139"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=42786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=42786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=42786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}