Self-employed bookkeeping platform Hnry books $35 million Series B

New Zealand-founded accounting fintech Hnry has raised A$35 million in a Series B as it looks to go global.

The round was led by local VC AirTree Ventures, supported by existing New York-based backer Left Lane Capital, Akshay Kothari, cofounder of California software company Notion, and Athletic Ventures, the sports star investment syndicate that includes AFL players Matt de Boer and Toby Greene, bowler Mitchell Starc and basketballer Matthew Dellavedova.

The raise means Hnry, founded in 2017 by James and Claire Fuller, as an all-in-one digital accountancy service for contractors, freelancers, tradies and other self-employed people, has now raised $53 million

Hnry crossed the ditch to Australia in 2020 and is the country’s fastest growing accountancy fintech. The new capital will fund plans to double headcount, expand internationally and product innovation.

Hnry Australia managing director Karan Anand said the business has seen revenue triple, while its customer base has quadrupled over the last 12 months.

“We’re thrilled that AirTree Ventures and Athletic Ventures have invested in Hnry. They bring a wealth of experience and expertise to the table, as well as a very impressive track record in this space,” he said.

“It’s also great to see existing investors following on with further investment, showing their continued enthusiasm for the Hnry service, and their excitement about our future trajectory, including expansion in Australia and potentially other markets as well.

“Australia’s self-employed have long been an afterthought when it comes to tax, finances, and financial services, so building the business so we can bring our offering to many more people is exciting and rewarding.”

Athletic Ventures managing partner Matt de Boer said the investment syndicate was attracted to Hnry for multiple reasons.

“The elite Hnry team and growth trajectory of the business make it highly investible. The product itself also resonates deeply with our athlete investors; independent earners are like athletes in that both have to be single-minded in their focus,” he said.

“A service that can take the stress and hassle out of tax means one less thing to worry about giving time back to recover and enabling self-employed people to focus all their energy and attention on being the very best at what they do.”