MYOB invest in POS startup Kounta

- June 11, 2014 2 MIN READ

Australia’s largest accounting solutions provider MYOB has partnered with Australian cloud-based Point of Sale (POS) startup Kounta to create an integrated online accounting and POS solution for MYOB’s clients.

Some of the countries most popular stores like Sonoma Baking Co, Gelato Messina, Mecca and Luxe, rely on Kounta at their point of sale. The Sydney based startup offers the flexibility of both online and offline access across multiple platforms, iPads, Android tablets, Mac OS, Windows, and the existing POS equipment retailers already have.

The partnership will see MYOB and Kounta launch an integrated online solution for MYOB clients that combines accounting and POS later this year. It will make it easier and more efficient for small and medium businesses that use MYOB software to also run their stores. The solution will integrate with MYOB’s popular cloud accounting solutions MYOB Essentials and MYOB AccountRight.

MYOB has also invested capital for a minority stake in Kounta. The terms of the deal were not disclosed.

Kounta also currently partners and integrates with PayPal, Tyro, Collect Rewards, Swarm, Deputy, and many more.

Nick Cloete, founder and CEO of Kounta, said the partnership will provide MYOB clients an easy-to-use, efficient online platform that combines accounting with their POS.

“The growth of Kounta as a startup has been based on our flexible, scalable, affordable cloud-based software. Over the past few years, Kounta has worked hard to re-imagine the way all different types and sizes of stores manage both online and offline transactions and it’s great to see such established and innovative companies like MYOB validating, investing in and supporting this new approach.

“Kounta lets merchants focus on customer service and experience, and also easily connects with other add-ons that retailers already use. This gives them access to real-time reporting and centralised management that not even a prohibitively expensive legacy solution could offer.

“Kounta remains committed to an open platform and will continue to design and develop intuitive Point of Sale solutions, with the ability to extend functionality through integration partnerships with all other leading online and mobile services like accounting, payments, loyalty, inventory, e-commerce platforms and more.”

MYOB General Manager, Connected Services, Andrew Birch said the investment is a key strategic move that will solidify the accounting software provider’s position in the retail POS, mobile payments and e-commerce space.

“We’re very pleased to announce our partnership with Kounta — a successful startup renowned for its flexible and scalable online POS solutions. Typical POS systems are made up of a mix of both hardware and software from different vendors. This will be a total solution from MYOB and fully integrated to eliminate compatibility and syncing risk between systems.

“Seamless integration ensures the data is reliable, accurate and up-to-date as a client can work from and maintain its customer and stock information all in one place and in real-time.

“The MYOB-Kounta partnership is integral to our vision of making cloud accounting easy for every business. The partnership also reinforces MYOB’s continued commitment to servicing the Australian and New Zealand SME market.”

Kounta will integrate with MYOB’s cloud accounting solutions MYOB Essentials and MYOB AccountRight.