Tellow by Shine

What Tellow by Shine does

Tellow by Shine (legally Shine Netherlands B.V.) is a cloud-based online accounting and embedded business banking platform targeting Dutch self-employed professionals (zzp'ers), freelancers, and small BV companies with up to five employees. Founded in 2015 and headquartered in Amsterdam, the company is owned by the Danish financial-services group Ageras. The product combines an automated bookkeeping suite — covering invoicing, quote management, receipt scanning via mobile camera, time and mileage tracking, expense categorization, and direct filing of VAT (btw) and income tax returns with the Dutch Tax Authority (Belastingdienst) — with a free Dutch business bank account (Tellow Betaalrekening) carrying a Dutch IBAN and a physical and virtual Mastercard debit card, powered by banking-as-a-service provider Swan under a BNP Paribas deposit guarantee.

The underlying technology stack relies on direct API integrations with every major Dutch bank for automatic transaction reconciliation, a verified integration with the Belastingdienst for in-app tax submission, KVK business-registry validation, and an image-processing pipeline for receipt OCR. The company employs 251-500 staff and reports over 150,000 self-serve registered users with a 95% recommendation rate.

Tellow operates a freemium product-led growth model: a free tier (basic bookkeeping plus the bank account), then Basis at €12.99/month, Plus at €22.99/month, and Compleet at €69.99/month, the last including a dedicated bookkeeper. Revenue also includes payment-processing fees of 0.25-0.5% plus €0.29 per transaction and potential interchange on the Mastercard debit card. A complementary product called Shine has been introduced as a "financial copilot" from the same legal entity. Ageras raised €73 million in 2021 to accelerate international growth, with Tellow positioned as a key subsidiary.

Name

Tellow by Shine

Legal name

Shine Netherlands B.V.

Website

https://tellow.nl

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Tellow by Shine is a Dutch cloud accounting and embedded business banking platform for zzp'ers, freelancers, and small businesses, combining automated bookkeeping with direct Belastingdienst tax filing and a free Dutch IBAN business account.

Ownership category

akta.pro rank

Product category

Small Business Accounting Software

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Software Publishers (5132)

SIC

Finance Services (6199)

akta.pro primary industry

Budgeting & Cash-Flow Management (FSAGADAA)

Keywords

• Online accounting software
• Freelancer bookkeeping
• Automated VAT filing
• Business bank account
• Receipt scanning

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Subscription SaaS - Tiers: Four-tier subscription model: Free (basic features), Basis (€12.99/mo - unlimited invoicing, receipts), Plus (€22.99/mo - automated VAT filing, tax reservations), and Compleet (€69.99/mo - full service with dedicated bookkeeper). All prices exclude 21% Dutch VAT. Annual billing offers up to 45% savings.
2. Payment Processing Fees: Commission fees on certain payment transactions: 0.5% + €0.29 per payment for basic tier, 0.25% + €0.29 for mid tier, and €0.29 per payment for highest tier.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Tellow provides an all-in-one online accounting and business banking platform for Dutch self-employed professionals (zzp'ers) and small businesses. It bundles a free Dutch IBAN business account (powered by Swan with a Mastercard debit card) with automated bookkeeping, invoicing, receipt scanning, time and mileage tracking, and direct automated VAT and income tax filing to the Belastingdienst.

Product overview

Tellow by Shine (Shine Netherlands B.V.) is an all-in-one online accounting and business banking platform for Dutch zzp'ers, freelancers, and small businesses. The core offering is the Tellow Online Boekhoudprogramma — a cloud-based accounting suite — combined with Tellow Banking, a free Dutch business bank account powered by Swan. The product portfolio spans four subscription tiers: Tellow Gratis (free), Tellow Basis (€12.99/month), Tellow Plus (€22.99/month), and Tellow Compleet (€69.99/month with a dedicated accountant). Core capabilities include automated VAT and income tax filing, invoice and quote generation, receipt scanning with image-based data extraction, time and mileage tracking, and financial reporting. Tellow also provides free invoice templates and a help center. A complementary product called Shine is being introduced as the 'financial copilot' for business growth. The company was backed by a €73M investment from the parent group Ageras to accelerate international expansion.

Differentiator

Problem solved

Functional benefit

Products and services

• Tellow Online Boekhoudprogramma Online accounting software for Dutch freelancers, self-employed professionals (zzp'ers), and small businesses. Provides automated VAT filing, income tax preparation, invoice and quote generation, receipt scanning, time and mileage tracking, financial reporting, and a Dutch business bank account in a single app.
• Tellow Banking (Betaalrekening) Free Dutch business bank account with a Dutch IBAN, virtual Mastercard debit card, physical recycled-plastic Mastercard debit card, real-time transaction notifications, SEPA transfers, and SEPA direct debit support. Powered by Swan (European e-money institution). Integrates directly with the accounting module.
• Tellow Mastercard Debit Card Physical and virtual Mastercard debit card linked to the Tellow business account, accepted at all Mastercard terminals worldwide including contactless, Apple Pay, and Google Pay. Includes 3D Secure authentication.
• Gratis Factuur Templates Free downloadable Word and Excel invoice templates (with and without VAT) in multiple color schemes, available for download from the Tellow website.
• Tellow Support Center Help center and FAQ portal organized by topic (Getting Started, Banking, VAT, Invoices, Expenses, Tax, Advanced Accounting) with articles, webinars, and guided walkthroughs. Available via live chat, email, phone, and in-person visits in Amsterdam.
• Shine (Financial Copilot) Financial copilot for businesses, positioned as the next generation of Tellow's services with additional intelligent features. Developed by Shine Netherlands B.V. (same legal entity as Tellow).

Quantifiable outcome

• 95% of users recommend Tellow
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Swan (Mastercard issuer)coreTechnology or IntegrationSwan is the underlying bank partner that enables Tellow's free business account with Dutch IBAN and Mastercard debit card functionality. Swan handles the banking infrastructure while Tellow provides the accounting layer on top.
• Belastingdienst (Dutch Tax Authority)coreTechnology or IntegrationVerified integration with the Belastingdienst for automated VAT filing and income tax submissions. Enables direct digital submission of tax returns without separate login to government systems.
• All Dutch Banks (ABN AMRO, ING, Rabobank, etc.)coreTechnology or IntegrationDirect secure linking with all Dutch banks for automatic transaction importing, categorization, and bank reconciliation. No bank-specific limitations.
• MastercardcoreTechnology or IntegrationMastercard network enables the Tellow debit card for payments worldwide with 100% coverage in the Netherlands. Includes 3D Secure authentication and Apple Pay/Google Pay integration.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• FreshBooks: SMB-focused invoicing and accounting SaaS for service businesses and freelancers. Comparable product positioning to Tellow's invoicing-plus-bookkeeping stack, though without integrated banking or Dutch tax-authority integrations.
• Bokio: Swedish SMB accounting and banking platform offering automated bookkeeping, invoicing, and integrated payments for freelancers and small companies. Comparable product scope to Tellow but targeting the Swedish market, illustrating the Nordic SMB fintech template Ageras may pursue.
• bunq: Dutch-origin neobank offering business accounts with multi-currency, IBAN, and integrations to accounting tools. Adjacent competitor: Tellow's banking is partner-provided via Swan, while bunq could layer its own accounting features and compete for the same freelancer audience.

Direct peers

• e-Boekhouden: Long-standing Dutch SMB accounting software with bank integrations, VAT filing, and invoicing. Targets the same zzp'er and small-BV segment as Tellow with subscription pricing and a similar self-serve PLG motion.
• Moneybird: Amsterdam-based online accounting platform for Dutch freelancers and small businesses. Closest Dutch competitor to Tellow, offering invoicing, bookkeeping, and VAT filing with comparable pricing tiers but without the integrated banking account.
• Yuki (Visma): Dutch SMB accounting platform owned by Visma, offering automated bookkeeping, document recognition, and accountant collaboration. Competes directly with Tellow in the zzp'er and small-business accounting category in the Netherlands.

Broad incumbents

• QuickBooks (Intuit): Global SMB accounting suite from Intuit, widely used by freelancers and small businesses and available in the Netherlands. Broader portfolio than Tellow but competes on cloud bookkeeping, invoicing, and tax support.
• Exact Online: Established Dutch/Northern European SMB ERP and accounting suite serving tens of thousands of SMEs with broader functionality than Tellow, including payroll, inventory, and HR. A larger incumbent competitor with a deeper mid-market presence.
• Xero: Global SMB cloud accounting platform with invoicing, bank feeds, and an accountant ecosystem. Operates in the Netherlands and competes with Tellow for SMB and accountant-led bookkeeping workflows.

Others

• Swan: French-regulated banking-as-a-service platform that provides the underlying bank account, IBAN, and card infrastructure powering Tellow's embedded business banking. Strategic infrastructure partner and adjacent enabler in the embedded-finance stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/hello.tellow.by.shine
• LinkedInlinkedin.com/company/tellowbyshine
• Xx.com/tellow_app

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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 Tellow by Shine