UK-based cloud accounting software company FreeAgent has acquired finance-tracking startup 60mo. The U.S. startup’s team will be incorporated into FreeAgent’s new American division. FreeAgent has also received an additional, undisclosed investment from Lightbank, which also was an investor in 60mo. This is Lightbank’s first international investment, says the firm’s partner Paul Lee.
60mo, which we’ve covered here, is an online service that helps businesses manage their finances by importing data from QuickBooks, FreshBooks, and a variety of financial institutions like Bank of America, Chase, and American Express. Once the data is in the system, you can use 60mo to create financial projections, manage your business’s budget and share the data with your accountant or investors — it’s sort of like a Mint for businesses.
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Last October, finance-tracking startup 60mo sent a tweet to Lightbank that read: “Hey @lightbank, we should chat sometime. Mid-westerners gotta stick together, yo.”
Three months later, Lightbank has its response: “fo sho”.
Today, 60mo is announcing that it’s closed a Series A funding round led by Lightbank. Exact details of the deal aren’t being disclosed, but we’re told it’s “in the range of a million dollars”. And yes, that tweet was actually the first time the two organizations communicated with each other.
60mo, which we’ve covered before, is an online service that helps businesses manage their finances by importing data from QuickBooks, FreshBooks, and a variety of financial institutions like Bank of America, Chase, and American Express. → Read More
For businesses both big and small, planning for the future is integral to a company’s success financially. There are a number of software applications that help companies create forward looking profit and loss statements and more, but 60mo is hoping to disrupt this space by offering a dead simple web-based application for both small businesses and enterprise companies.
The tool allows you to import your financials from a number of accounting software programs including QuickBooks. FreshBooks, and banks, including Bank Of America, Chase and American Express. The startup will also ask new users a set of questions regarding their industry, business model, office location(s), staff, shareholders, and accounting system. 60mo will then create an optimal account structure with built in projection trends, reports, and more for each company. → Read More
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