Countingup

What Countingup does

Countingup (legal entity: Counting Ltd, company number 10729748) is a UK-based fintech founded in 2017 that operates a mobile-first electronic money business current account with embedded accounting and tax automation for sole traders, freelancers, and small limited companies. The product, distributed as an iOS and Android application, combines a Faster Payments-enabled current account and Mastercard-branded debit card with automatic transaction categorisation, invoicing, receipt capture, real-time tax estimation, automated tax pot allocation, MTD-compliant VAT filing, company formation, and an Accountant Hub for professional advisor access. The platform is operated under FCA agent status (Counting Ltd FRN 948100) of Prepay Technologies Ltd (FRN 900010), with Prepay serving as the regulated e-money issuer and fund-safeguarding entity.

The business monetises primarily through a tiered monthly subscription of £3, £9, or £18 based on the customer's monthly deposit volume, supplemented by Dojo card payment transaction fees (1.99%) through an exclusive bundling partnership, one-off UK company formation fees, and an introduction arrangement with Superscript for small-business insurance. Countingup employs 51–100 people, is headquartered in London (20-22 Wenlock Road, N1 7GU), and reports a customer base of over 100,000 UK small businesses as of 2025. The company has raised approximately $21.2M across four disclosed rounds (2017–2021) with backing from Frontline Ventures, Forward Partners, ING Ventures, Framework Venture Partners, Gresham House Ventures, and strategic investor Sage Group. Countingup operates exclusively within the United Kingdom.

Name

Countingup

Legal name

Counting Ltd

Website

https://countingup.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Countingup is a UK mobile-first fintech that combines an FCA-regulated electronic money business current account with embedded accounting, automated tax estimation, invoicing, and company formation in a single app, serving over 100,000 sole traders, freelancers, and small limited companies via a tiered £3–£18 monthly subscription.

Ownership category

akta.pro rank

Product category

Small Business Banking Software

NAICS

Credit Card Issuing (52221)

akta.pro primary industry

Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)

Keywords

• Small business banking
• Business current account
• Embedded accounting software
• Tax automation tools
• E-money accounts

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others, Infrastructure

Revenue model

1. Subscription fees (tiered): Countingup charges a monthly subscription fee based on the customer's total monthly deposit volume: £3/month for deposits of £0–£750, £9/month for £750.01–£7,500, and £18/month for unlimited deposits. The subscription includes a business current account, full accounting software, and tax tools — providing cost savings vs. purchasing separate accounting software, tax filing tools, and accountant time.
2. Card transaction fees (via Dojo partnership): Customers who use the Dojo Go Max card reader pay a standard Dojo transaction fee of 1.99% per transaction. Dojo is offered free to Countingup customers but Countingup benefits from the integrated ecosystem that drives additional platform engagement and stickiness.
3. Company formation fees: Countingup offers a UK company registration service. Fees are the greater of £100 or the simple rate charged by Companies House, subject to periodic discounts. This is a one-time revenue stream for new limited company formations.
4. Referral incentive costs: Countingup pays a £50 referral bonus to both the referrer and the referred new customer upon successful completion of requirements (£150 card spend within 60 days). This is a customer acquisition cost rather than a revenue stream, used to drive account growth.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Countingup provides a UK business current account (electronic money) combined with built-in accounting, invoicing, and tax automation in a single smartphone application. The all-in-one product targets sole traders, freelancers, self-employed individuals, and small UK limited companies, replacing the need for separate bank accounts, accounting software, and tax filing tools. Pricing is a tiered monthly subscription (£3 / £9 / £18) scaled by monthly deposits, with a free 3-month trial and an integrated Accountant Hub for professional advisors.

Product overview

Countingup is a UK challenger bank offering an all-in-one electronic money business current account with integrated accounting and tax software for sole traders, freelancers, and small businesses. The core product is the Countingup Business Current Account (from £3/month), which combines banking services with built-in accounting tools. Key integrated modules include SmartTax AI for automated tax management, an Accountant Hub for professional advisor access, and a Company Formation Service for business incorporation. The ecosystem extends through partnerships to offer a free Dojo Go Max card reader and includes a referral programme. The company is an agent of Prepay Technologies Ltd (PPS), regulated by the FCA under the Electronic Money Regulations 2011.

Differentiator

Problem solved

Functional benefit

Products and services

• Countingup Business Current Account Electronic money (e-money) business current account for UK sole traders, freelancers, self-employed individuals, and small limited companies, delivered via iOS and Android apps. Includes built-in bookkeeping with automatic transaction categorisation, invoicing and payment links, receipt capture, real-time tax estimation and automated tax pot via SmartTax AI, MTD-compliant VAT filing in-app, cashflow insights, and access to the Accountant Hub. Available on a tiered monthly subscription (£3, £9, or £18) scaled by monthly deposits, with a free 3-month trial.
• Company Formation Service Service that registers a UK limited company through Companies House on behalf of customers. Pricing is the greater of £100 or the simple Companies House fee, subject to periodic discounts, and the package includes the Certificate of Incorporation and Memorandum & Articles of Association PDFs. Designed for self-employed individuals and first-time founders who want to incorporate and then open a Countingup business account in one workflow.

Quantifiable outcome

• Trusted by over 100,000 UK small businesses
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Prepay Technologies Ltd (PPS / PrePay Solutions)coreTechnology or IntegrationPrepay Technologies Ltd is the FCA-regulated e-money issuer (FRN 900010) of Countingup's business account and card. Counting Ltd acts as a registered Agent of PPS. PPS handles issuance of electronic money, card manufacturing, and the safeguarding of customer funds under the Electronic Money Regulations 2011. This is a critical infrastructure partnership without which Countingup cannot operate its e-money account.
• DojocoreGTM or Marketing PartnerDojo is a card payment acceptance provider offering the Dojo Go Max card reader. Through an exclusive partnership with Countingup, new Dojo customers receive the hardware (RRP £229) free when they open a Countingup account and link their accounts. Dojo charges 1.99% per transaction. The partnership extends Countingup's offering into in-person card payment acceptance and drives customer acquisition through the joint offer. Offer valid only for new Dojo customers.
• MastercardcoreTechnology or IntegrationThe Countingup debit card is issued pursuant to a licence by Mastercard International Incorporated. This partnership enables Countingup to offer a Mastercard-branded business debit card accepted globally at all Mastercard terminals and ATMs, and supports contactless and mobile wallet payments (Apple Pay, Google Pay).

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Starling Bank: Starling Bank is one of the UK's largest challenger banks offering business current accounts for freelancers, sole traders, and limited companies. Broader and better-capitalised incumbent in the UK SMB banking space, with a wider feature set including lending and deposits.
• Xero: Xero is a leading cloud accounting platform for UK SMBs with deep accountant ecosystem penetration. Comparable to Countingup on the accounting/bookkeeping/tax side and via its accountant hub equivalent, though Xero does not natively issue business bank accounts (partnering with Wise/Stripe instead).
• Monzo Business: Monzo's business account targets UK sole traders and small businesses, with mobile-first onboarding and category-leading customer experience. A broader incumbent competitor with significantly larger customer base and funding, though less focused on embedded accounting.
• QuickBooks (Intuit): QuickBooks is a dominant UK SMB accounting platform owned by Intuit, which has been expanding into payments, banking (QuickBooks Capital), and integrated tax tools. It competes with Countingup on the accounting and tax automation layer and could add banking features that directly overlap.
• Revolut Business: Revolut's business offering serves UK SMBs and freelancers with multi-currency accounts, expense management, and integrations with accounting software. A broader incumbent with much greater scale, providing a benchmark for SMB challenger banking features and pricing.

Direct peers

• Coconut: Coconut is a UK fintech offering a current account combined with accounting and tax tools specifically for freelancers, sole traders, and limited companies. Highly comparable to Countingup on product positioning (banking + accounting + tax for UK SMBs) and target customer segment.
• Anna Money: Anna Money is a UK SMB-focused business banking and accounting app targeting small businesses and sole traders. Competes directly with Countingup in the integrated banking + accounting proposition for UK SMBs, including invoicing, expense management, and tax tools.
• Tide: Tide is a UK-based challenger bank targeting small businesses and sole traders with a business current account and integrated accounting tools. Direct competitor to Countingup, operating in the same SMB segment with overlapping functionality around invoicing, expense categorisation, and accounting integrations.

Others

• Sage: Sage is both a Countingup investor and a global accounting software leader serving UK SMBs. It is adjacent rather than directly competing today, but its strategic investment positions it as a potential acquirer, partner, or future competitor should Sage bundle its own banking offering.

Emerging players

• FreeAgent: FreeAgent is a UK SMB accounting software (acquired by NatWest) targeting small businesses, freelancers, and accountants with bookkeeping, invoicing, and tax tools. Comparable to Countingup on the accounting and tax automation layer for the same customer segments.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/countinguphq
• Facebookfacebook.com/countinguphq
• LinkedInlinkedin.com/company/countingup

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Countingup