This site uses cookies. By using this site you agree to receiving cookies. View Policy.

Successfully funded
overfunded
Coconut
371%
Raised
£1,857,450
Investors
1997
Target
£500,000
Equity
17.93%
Pre-money valuation
£8,500,000

Coconut is the current account that takes care of your accounting and tax, designed specifically for self-employed people and small business owners. Now with 3,000 accounts open, they combine banking & accounting in one simple product to automate accounting & tax using rich, real-time payments data.

  • Launched for sole traders on 31st January this year
  • 3,000 accounts open with 5,000 limited companies pre-registered
  • Processed £12m in customer payments
  • Winners of multiple banking innovation awards

Idea

After selling their first fintech business, Sam and Adam joined the freelance community. They quickly found that working for themselves presented very common challenges like managing expenses, getting paid and the dreaded tax return.

Despite qualifying as accountants at PwC, they spent a lot of time and money on traditional cloud accounting packages and business bank accounts, but couldn’t find a way of getting real-time visibility and control over the finances and tax.

They’ve built Coconut to solve this problem. It’s a current account that takes care of your accounting and tax, designed specifically for self-employed people and small business owners.

Coconut automatically tells customers which transactions are tax deductible, provides guidance about the tax rules, forecasts their tax bill and fills out their tax return automatically.

They want to be the one place self-employed people and small business owners go to manage their business:

- Automating their accounting and tax

- Connecting them to accountants to chat through the app if they have a question

- Automating the review and file process for tax returns and accounts

With an estimated 5m owner-managed businesses in the UK and half a billion worldwide, the Coconut team is on a mission to free 20m people around the world from business admin by combining banking and accounting into one simple product.

To see the rest of the Coconut pitch, join now.
It’s free, quick and easy.

Join

Already registered? Log in

To see the rest of the Coconut pitch, join now.
It’s free, quick and easy.

Coconut

Join to read more information about the Coconut team, documents, and what other investors are saying about the pitch.

If you choose to invest we won’t take your money until the pitch closes and you can cancel your investment at any time.

Crowdcube is a leading investment crowdfunding platform

Successfully Invested
£689m+
Registered Investors
794k+