Fintech startup Hnry raises $35 million to automate accounting so you don’t have to

Fintech startup Hnry has just closed $35 million in Series B funding it will use to expand in Australia and overseas.

The oversubscribed funding round included investment from AirTree Ventures, Athletic Ventures and Left Lane Capital. This fresh cash injection brings Hnry’s total funding to $60 million to date.

Hnry was first launched in Australia in 2020 and specialises in accountancy fintech. The platform is a one-stop shop for accounting and tax automation, particularly for sole traders. Its aim is to save people time on accountancy paperwork through its software.

It’s also able to automatically calculate income tax, GST, Medicare levies and student loans.

According to the company, the last 12 months have seen its revenue triple and its customer base quadruple. Hnry was unable to share revenue figures with SmartCompany, but confirmed its customer base is in the tens of thousands.

Hnry plans to use this raise to expand both in Australia and overseas as well as add to its headcount.

“Australia’s self-employed have long been an afterthought when it comes to tax, finances, and financial services, so building the business so we can bring our offering to many more people is exciting and rewarding,” Karan Anand, managing director of Hnry, said in a statement.

AirTree also commented on the raise.

“Figuring out how much tax to pay as a sole trader is stressful and Hnry removes that pain entirely.

“We look to invest in products customers love to use, and Hnry’s customers constantly express their love across social media, in surveys, and through their engagement with the product,” Jackie Vullinghs, partner at AirTree Ventures, said.

“We’re delighted to support the team in continuing to make life easier for sole traders throughout Australia and beyond.”