UK: Countingup sees rapid growth in business current account market

Since launching its business current account in April 2018, digital challenger bank Countingup has seen a rapid growth in its current account market share.

Countingup now operates 1,000 business accounts as of mid-June, compared with only 500, three weeks prior, Tim Fouracre, Countingup Founder and CEO, states that ‘The early growth we’ve seen is down to amazing word-of-mouth referrals’.

The institution was originally founded to help small business owners connect their accounting and banking systems together seamlessly.

It achieves this through categorising transactions as they are completed and then using that information, it populates accounting documentation such as profit and loss reports.

Countingup can be downloaded via Google Play or the App store, with the bank intending to roll out additional features such as self-assessment tax filing and invoicing within the coming months.

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