Lord Young Looks to Step Up KashFlow.
Wednesday, 1st February 2006 - For Immediate Release
The Rt. Hon. Lord Young of Graffham, former Secretary of State for Employment and Trade and Industry has invested in the accounting software development company, agreeing to inject a significant amount of capital.
KashFlow launched its flagship product, an online tool specifically designed to help owner managers in small businesses manage their accounts, in mid 2005. Since that time its simplicity and ease of use has helped it to quickly win a significant share of the valuable accounting software market and the owner has been seeking major financial backing to ensure it continues to grow and succeed in such a congested market place.
The capital Lord Young has invested will be used to ensure KashFlow goes on to increase its market share and it will also allow it to continue to compete with the bigger and more well established accounting software providers.
Speaking about the investment Lord Young commented, “You only have to look at what KashFlow has already achieved in terms of market penetration against a tough environment to see that with the right funding it will continue to win more market share”.
One of the key factors in my decision to invest was as a direct result of reading the feedback about how effective a product it is and how much it is helping small business owners across the UK”.
Duane Jackson, founder and Managing Director of KashFlow commented, “This is a truly exciting time for the business and I am really proud that the success of our unique product has enabled us to catch the eye of such a well respected City businessman as Lord Young.”.
The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk . The site also displays examples of feedback from actual users.
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About KashFlow
KashFlow is an online tool specifically designed to help owner managers in
small businesses manage their accounts. KashFlow’s aim is to take the boredom
out of managing a company’s accounts and to make the day to day tasks easier to achieve so that less small businesses neglect this area.
KashFlow keeps accounts management simple: it requires no installation,
software training or prior knowledge of accountancy.
All users benefit from
a free, no obligation 60-day trial. The monthly subscription price is £15.99 a month - including free support and upgrades.
Contacts
For further editorial information, contact:
Andy Barr
andy@kashflow.co.uk
01452 527 898
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Notes to Editors
In June 2008, KashFlow became the first accounting software package to be certified by PayPal for integration with its payment platform. PayPal and KashFlow now work in partnership to provide a seamless, end-to-end, payment processing and accounting system.
In 2007 KashFlow won a Business Software Satisfaction award, judged entirely by customer feedback, for the category of web-based accounting - beating the likes of Sage and Netsuite.
KashFlow has received two rounds of venture capital funding from their now chairman, Lord Young of Graffham. Lord Young is a former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless
KashFlow is simple to operate, with users instinctively knowing where to click to perform almost any accountancy task
Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy
KashFlow has been featured in the likes of the Financial Times, Daily Mail, The Daily Telegraph, The Mail on Sunday, BBC Radio and all the leading accounting titles.
