FinTech Startup Earnr To Launch Bookkeeping App For Solopreneurs
Earnr, a fintech startup that provides finance and tax services targeting UK’s creator economy is going to launch an app for solopreneurs.
Earnr, the tax, and finance application has recently announced to launch an app. The app will be targeting 8 million creators and side hustlers across the UK who run tax-eligible small businesses.
The fintech startup says that the app will automate the financial and tax admin challenges that come with any side business. Providing a hub for tailoring financial services and tools for solopreneurs with the inclusion of accountancy services, digital bookkeeping, and also access to expert help.
Earnr has also successfully gathered the seed funding of £650,000 in a funding round led by 7percent Ventures with the participation of Antler and FJ Labs.
The app uses a mix of AI and open banking to automate the tax return. The company says that a person earning less than £3k from their side hustle can file their tax return for free whilst for those earning more than £3k, the Earner charges a £99 fee. Since the pandemic, the use of online services and fintech apps that promote tax collection, B2B sales process thus supporting eCommerce businesses has increased.
The company is authorized by Financial Conduct Authority. Enzo Ottens, co-founder, and CEO of Earnr explicated that during the pandemic he did his side hustles and the process of submitting taxes is now easier than ever. He said, “Many of us in the earnr team started our own side hustles during the UK’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.”
Ottens also said that this service does this all for people and as a new solo venture he and his team hardly want to leave anything behind. Regarding his efforts with startup and securing funding he said “We know first-hand that when you set out with a new solo venture, the last thing you want is the distraction and buzzkill of financial admin bogging you down, even though it’s essential to avoid costly mistakes. So we’ve built a service that does it all for you, and automatically with a minimum of hands-on input.”
He also said that this new launch is the manifestation of the startup’s mission “As Earnr’s first launch, the new app paints a clear picture of our mission – to provide the financial tools people need to flourish as they explore new ways to earn a living and take control of their lives with new and different forms of self-employment.”
Story Credits: Altfi