Liquid Accounts attracts £750,000 equity investment

Mar 9 2010 by Henryk Zientek, Huddersfield Daily Examiner

AN award-winning businessman has secured six-figure funding to strengthen his company’s position in the field of online accounting software.

Matt Holmes, managing director of Longwoood-based Liquid Accounts has attracted equity investment of more than £750,000.

The cash injection comes with the sale of an 18% stake in the business to a syndicate of leading business angels and a further 12% being match-funded by the Government’s flagship fund for women-led businesses, The Aspire Fund. This support was attracted by Lisa Kendrick – one of Liquid’s founders and owners.

The investment will help the company open up new routes to market, allow it to focus on developing its sales and marketing activity and fully exploit the growing demand for cost-effective and time saving online accounting applications among small and medium sized businesses.

The private investors – three of whom join the Liquid Accounts board – bring with them a wealth of expertise and experience in accounting and the running of software and web technology companies.

Liquid Accounts, which was co-founded by Lisa, Matt and Jon Wright, has a rapidly expanding customer base and an established bank of reputable accountancy firms which use the Liquid Accounts system to improve service to their clients.