ACCOUNTANCY software specialist Liquid Accounts has secured a second round of funding to further develop its sales.
The new financial backing comes as the Longwood-based business releases the latest version of its award-winning online accounting software, which includes a new payroll module.
The funding was raised from Liquid Accounts’ existing consortium of investors, which includes technology entrepreneurs Richard Doyle, who is company chairman and accountant Ian McNeil as well as accountant Curtis Wright.
The private investment was matched by The Aspire Fund, a Government fund for women-led businesses managed by Capital for Enterprises, who invested because of the role of Liquid Accounts marketing director Lisa Kendrick in founding and developing the business.
Aspire had previously supported the first round of funding.
The Liquid Accounts team was again supported by Connect Yorkshire, a not-for-profit company that helps growth businesses in Yorkshire get the funding and expertise they need.
Andy Chaffer, programme manager for Connect Yorkshire, said: “Liquid Accounts is an innovative, ambitious Yorkshire company and Connect Yorkshire is delighted to have played a role in bringing significant new investment to a local company with exciting global potential.”
Matt Holmes, managing director of Liquid Accounts, said: “In the past year, we’ve done a lot of work on restructuring the company for growth and refocusing our sales efforts on building strategic partnerships where Liquid can be included as part of an offering of essential business services for an existing SME market or client base.
“We have also significantly grown our network of accountancy services professionals who are supporting Liquid Accounts.
“As a result of this and our progress, our investors have committed more funds to accelerate the process and allow us to enhance and add value to our existing software.”
