Earnr is a new finance and tax service aimed at the U.K. creator economy and people doing “side-hustle” businesses. It’s now secured £650,000 to launch an app aimed at “solopreneurs”. The round was led by 7percent Ventures, and was joined by Antler and FJ Labs.
The startup deals with the financial and tax admin side of new ventures, and works with private, personal bank accounts. The app provides a hub of financial tools and services for these self-employed side-hustlers, as it provides digital bookkeeping and accountancy services, automates tax returns and comes with access to expert help.
Anyone earning less than £3,000 from their side hustle can submit their tax return for free, and over that Earnr charges a flat £99 fee.
CEO Enzo Ottens said: “Many of us in the Earnr team started our own side hustles during the U.K.’s many lockdowns, and although doing this is getting easier than ever, finance and tax admin is always where complexity and the risk of expensive mistakes lurk… So we’ve built a service that does it all for you, and automatically with a minimum of hands-on input.”
Andrew J. Scott, founding Partner at 7percent Ventures, said: “We backed Enzo and the Earnr team because of their ambition to disrupt the half-trillion-dollar accounting sector globally using AI At 7percent we love startups which aim to fundamentally transform laggard industries and Earnr were aligned on the fastest way to do that, starting today with tax returns for side earners.”