toos

What toos does

toos (legal entity: Toos Financial Services Pty Ltd) is an Australian-headquartered SaaS company that targets sole traders and small self-employed operators with a Progressive Web App for end-to-end financial administration. The core product combines invoicing and quoting, receipt capture (via photo, email forwarding, or file upload), AI-based receipt parsing, automated reconciliation against bank transactions, real-time tax liability tracking, vehicle log book, and client hours tracking, with automated preparation of activity statements and end-of-year profit and loss reports.

The platform is delivered as a PWA rather than a native mobile app, eliminating app store dependencies and enabling push updates. A separate free Accountant Portal provides accounting professionals with validated, reconciled client data and downloadable reports, creating a two-sided acquisition loop where accountants and sole traders can invite each other. The company additionally offers a line of professional services — startup consulting covering company registration, MVP development, virtual CTO work, and offshore development oversight — supported by a Vietnam-based engineering partner.

Commercially, toos operates a freemium subscription: sole traders are unbilled while their monthly invoicing remains below an undisclosed minimum threshold, then pay a recurring monthly or annual subscription (with a 20% annual discount) that unlocks unlimited quotes, invoices, transactions, reconciliation, and accountant access. The accountant portal is always free. Distribution is self-serve digital plus content/blog-driven organic acquisition. The platform is available across six countries (Australia, Canada, New Zealand, Singapore, United Kingdom, United States). The company was founded in 2023 by Simon Ilsley and Kynan Rasura, is bootstrapped with no disclosed external funding, and operates with a 1-10 person team from Peregian Beach, Queensland.

Name

toos

Legal name

Toos Financial Services Pty Ltd

Website

https://toos.tax

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Toos is an Australian SaaS company offering a progressive web app that automates invoicing, receipt capture, bank reconciliation, and tax tracking for sole traders, with a free accountant portal for downstream filing.

Ownership category

akta.pro rank

Headquarters

HQ city

Peregian Beach

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Sole Trader Subscription: Monthly or annual subscription for sole traders. Free tier available for users invoicing below a minimum monthly threshold. Pay-as-you-go model where users are only charged when they are actively earning above the minimum threshold. Annual subscribers receive 20% discount.
2. Accountant Portal Access: Free access for accountants to view and download client profit & loss reports and activity statements, with data validation and reconciliation included.
3. Startup Consulting Services: Consulting services for startups including company registration, MVP development, virtual CTO, and general business consulting. Revenue from professional services engagements.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

toos provides a Progressive Web App (PWA) that automates invoicing, expense tracking, receipt capture and tax preparation for sole traders and freelancers. Users can snap photos of receipts, forward them by email, or upload files; the platform processes them with AI, reconciles them to bank transactions, and continuously updates tax liability. A free Accountant Portal and a separate startup consulting practice round out the offering.

Product overview

toos is a financial management platform for sole traders consisting of three main offerings: the toos app (a progressive web app for expense management, invoicing, quotes, vehicle logging, client hours tracking, and AI-powered tax liability management), the Accountant Portal (for accounting professionals to access and download client financial data, reports, and activity statements), and Consulting Services (startup-focused advisory covering company registration, MVP development, offshore development, virtual CTO, and hosting guidance). The platform emphasizes automated receipt processing and reconciliation powered by AI.

Differentiator

Problem solved

Functional benefit

Products and services

• toos app A progressive web app (PWA) for sole traders that automates expense tracking, receipt capture (via photo, email forward, or file upload), quotes and invoicing, vehicle log book, client hours tracking, and real-time tax liability updates using AI-powered receipt parsing and automated bank transaction reconciliation.
• Accountant Portal A free web portal for accountants and bookkeepers to view and download validated and reconciled client data, including end-of-year profit & loss reports and activity statements, to support tax filing and reduce time spent cleaning client data.
• Startup Consulting Services Professional consulting services for early-stage startups covering company registration, MVP development, offshore (Vietnam) development management, virtual CTO advisory, hosting guidance, and general business consulting.

Quantifiable outcome

• Receipt processing is fully automated via AI
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature4 records

Partnerships

One partnership is on record.

• Vietnam Offshore Development PartnercoreTechnology or IntegrationSoftware development partner in Vietnam with highly skilled full-stack developers and software engineers. Manages resources on behalf of clients and liaises to ensure projects are delivered on time and to budget. Used for startup MVP development and consulting services.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• FreshBooks: Cloud invoicing and expense management platform built for service-based sole traders and freelancers, with receipt capture, expense tracking, time billing, and accountant collaboration - directly overlapping core workflows and target persona.
• Xero: Cloud accounting platform founded in New Zealand serving SMBs and sole traders globally with invoicing, bank reconciliation, expense capture, and accountant collaboration - the same end-to-end workflow toos targets, with a much larger feature set and accountant ecosystem.
• Wave Accounting: Free, cloud-based accounting software purpose-built for sole traders, freelancers, and very small businesses with invoicing, receipt scanning, and accountant-friendly reports - directly comparable freemium positioning targeting the same micro-business segment.
• Bonsai (now part of FTX-style roll-up; acquired by Sumday): All-in-one business management platform for freelancers and sole traders combining invoicing, expense tracking, tax estimates, and accountant-friendly reporting - very comparable end-to-end freelancer toolkit positioning.
• Hurdlr: Automatic mileage and expense tracking app for self-employed and 1099 workers, using AI/OCR to capture receipts and categorize transactions for tax purposes - directly comparable AI-receipt and auto-reconciliation feature set for the same micro-business persona.
• MYOB: Australia-headquartered accounting and payroll software for small businesses and sole traders; directly comparable given shared Australian origin and overlapping sole trader / accountant workflows, including BAS-style activity statements.

Broad incumbents

• Sage: Global incumbent in accounting and payroll software for SMBs across multiple jurisdictions; comparable because toos operates in 6 countries where Sage offers localized tax-compliance and bookkeeping tools, often competing for the same sole trader.
• QuickBooks (Intuit): Dominant global accounting platform for SMBs and self-employed with invoicing, receipt capture, mileage tracking, and tax categorization - comparable core functionality but bundled into Intuit's broader financial software ecosystem including TurboTax and Credit Karma.

Emerging players

• Dext (formerly Receipt Bank): Receipt capture and data extraction tool serving accountants and their SMB clients; comparable because it sits upstream of the same bookkeeping workflow toos automates, and competes for the same accountant-channel relationships.
• Receipt Bank / AutoEntry: AI-powered OCR data capture for receipts, invoices, and bank statements that integrates with Xero/QuickBooks/Sage; comparable AI receipt-processing capability and accountant-distribution model, though positioned as add-on infrastructure rather than full-stack accounting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/toos-biz

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 toos