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{{Short description|British cloud-based accounting software company}} |
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| logo_alt = FreeAgent's logo |
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| logo_caption = FreeAgent logo used from 2023 |
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| foundation = [[Edinburgh]], UK (2007) |
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| location_country = [[United Kingdom]] |
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| num_users = 90,000 |
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| foundation = {{Start date and age|2007}} |
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| current_status = Active |
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| num_employees = 200 (as of July 2019) |
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| commercial = Yes |
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| industry = Software as a Service (SaaS) |
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| owner = [[NatWest Group]] |
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| industry = Software as a Service (SaaS) |
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'''FreeAgent''' is a [[cloud-based]] accounting software company based in [[Edinburgh]], Scotland. |
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The first beta was launched in April 2007, followed by the official launch in September and referral scheme in October. |
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==History== |
==History== |
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FreeAgent was launched in September 2007. The company was founded by Ed Molyneux, Olly Headey and Roan Lavery. |
FreeAgent was launched in September 2007. The company was founded by Ed Molyneux, Olly Headey and Roan Lavery. |
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In 2012 FreeAgent acquired the American startup 60mo, in order to expand into the US market.<ref>{{cite web |url=https://techcrunch.com/2012/05/03/freeagent-acquires-financial-software-startup-60mo-lands-investment-from-lightbank/ |date=3 May 2012 |website=[[TechCrunch]] |title=FreeAgent Acquires Financial Software Startup 60mo; Lands Investment From Lightbank}} {{verify source |date=September 2019 |reason=This ref was deleted Special:Diff/889731215 by a bug in VisualEditor and later restored by a bot from the original cite located at Special:Permalink/851323316 cite #2 - verify the cite is accurate and delete this template. [[User:GreenC bot/Job 18]]}}</ref> It topped [[Deloitte]]'s list of fastest growing technology firms in 2013.<ref>{{cite web |url=https://www.bbc.co.uk/news/uk-scotland-scotland-business-24932698 |website=BBC News |date=13 November 2013 |title=Online accounting firm FreeAgent tops Deloitte growth list}} {{verify source |date=September 2019 |reason=This ref was deleted Special:Diff/889731215 by a bug in VisualEditor and later restored by a bot from the original cite located at Special:Permalink/851323316 cite #3 - verify the cite is accurate and delete this template. [[User:GreenC bot/Job 18]]}}</ref> |
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The founders were originally working as freelance designers and developers. They put their heads together to come up with a new way to deal with bookkeeping (e.g. invoices, spreadsheets, receipts). |
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After leaving the RAF and starting as a contractor, Ed started building the initial FreeAgent prototype. |
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FreeAgent began a partnership with IRIS in 2010.<ref>{{Cite web|url=http://social.techcrunch.com/2010/03/30/iris-invests-in-freeagent-to-become-exclusive-uk-accountancy-distributor/|title=IRIS invests in FreeAgent to become exclusive UK accountancy distributor|website=TechCrunch|language=en-US|access-date=2019-03-27}}</ref> |
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In 2012 FreeAgent acquired the American startup 60mo, in order to expand into the US market.[[FreeAgent#cite%20note-2|<sup>[2]</sup>]] It topped [[Deloitte]]'s list of fastest growing technology firms in 2013.[[FreeAgent#cite%20note-3|<sup>[3]</sup>]] |
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In 2015, FreeAgent Mobile for iOS App. |
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In November 2016, FreeAgent became a public company trading in the London Stock Exchange. |
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In 2017, FreeAgent started working with Royal Bank of Scotland Group, to provide FreeAgent to their customers for free. |
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In 2017, RBS and NatWest Direct Bank Feeds introduced FreeAgent. |
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== Features == |
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* FreeAgent is aimed at small businesses and their accountants. |
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* Desktop, iOS, Android. |
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* Send and track professionally designed estimates and invoices. |
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* Expenses – snap a photo with your phone and upload. |
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* Time Tracking – record time with the in-built stopwatch or smart timesheets. |
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* Self Assessment – fill and file a Self Assessment tax return directly to HMRC from the app. |
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* VAT – review automatically generated VAT returns and file with a single click (HMRC compatible for MTD for VAT). |
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* Corporation Tax – forecast ahead of time to avoid surprises. |
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* Dashboard – monitor cashflow at a glance and see when tax bills are due. |
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* Banking – connect FreeAgent to your bank accounts to automatically import transactions. |
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* Projects – a bird's eye view of the performance of your income. |
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| ⚫ | In 2015, FreeAgent raised over £1 million via crowdfunding with Seedrs.<ref>{{Cite web|url=https://www.seedrs.com/freeagent|title=FreeAgent|website=www.seedrs.com|language=en-US|access-date=2019-03-27}}</ref><ref>{{cite web |title=FreeAgent £1m crowdfunding to drive 're-invention' |url=https://www.scotsman.com/business/freeagent-ps1m-crowdfunding-drive-re-invention-1504492 |website=www.scotsman.com |date=21 May 2015 |access-date=9 January 2021 |language=en}}</ref> |
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As well as providing services to small businesses directly, FreeAgent also works with accountants who use the software with their clients. |
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In November 2016, FreeAgent became a public company, floating on the [[London Stock Exchange]].<ref>{{cite news |title=London Stock Exchange welcomes FreeAgent to AIM |language=en |work=London Stock Exchange Group |url=https://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/equities-markets/raising-equity-finance/market-open-ceremony/london-stock-exchange-welcomes-freeagent-aim |access-date=9 January 2021 |archive-date=20 January 2021 |archive-url=https://web.archive.org/web/20210120002221/https://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/equities-markets/raising-equity-finance/market-open-ceremony/london-stock-exchange-welcomes-freeagent-aim |url-status=bot: unknown }}</ref> |
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The FreeAgent Partner Programme provides access to benefits including: |
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| ⚫ | In 2018, the [[NatWest Group|Royal Bank of Scotland Group]] acquired FreeAgent for £53 million.<ref>{{cite web |title=FreeAgent taken over by RBS in £53m deal |url=https://www.scotsman.com/business/freeagent-taken-over-rbs-aps53m-deal-311219 |website=www.scotsman.com |date=27 March 2018 |access-date=9 January 2021 |language=en}}</ref> |
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* a practice dashboard |
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* automated onboarding journey for accountants and clients |
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* cross-client reporting |
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* bulk payroll submission |
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* free licences for new clients who do business banking with NatWest or Royal Bank of Scotland |
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* the chance to become an accredited partner, unlocking additional practice growth benefits |
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* unlimited access to FreeAgent's technical support teams and a dedicated account manager |
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==See also== |
==See also== |
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[[Category:Accounting software]] |
[[Category:Accounting software]] |
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[[Category:British companies established in 2007]] |
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[[Category:Software companies of Scotland]] |
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[[Category:Software companies established in 2007]] |
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[[Category:Companies based in Edinburgh]] |
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Latest revision as of 17:30, 24 December 2024
 FreeAgent logo used from 2023 | |
| Company type | Subsidiary |
|---|---|
| Industry | Software as a Service (SaaS) |
| Founded | 2007 |
| Founder | Ed Molyneux, Olly Headey, Roan Lavery |
| Headquarters | Edinburgh, Scotland, UK |
Key people | Roan Lavery (CEO) |
| Owner | NatWest Group |
Number of employees | 200 (as of July 2019) |
| Website | www |
FreeAgent is a cloud-based accounting software company based in Edinburgh, Scotland.
History
[edit]
FreeAgent was launched in September 2007. The company was founded by Ed Molyneux, Olly Headey and Roan Lavery.
In 2012 FreeAgent acquired the American startup 60mo, in order to expand into the US market.[1] It topped Deloitte's list of fastest growing technology firms in 2013.[2]
In 2015, FreeAgent raised over £1 million via crowdfunding with Seedrs.[3][4]
In November 2016, FreeAgent became a public company, floating on the London Stock Exchange.[5]
In 2018, the Royal Bank of Scotland Group acquired FreeAgent for £53 million.[6]
See also
[edit]References
[edit]- ^ "FreeAgent Acquires Financial Software Startup 60mo; Lands Investment From Lightbank". TechCrunch. 3 May 2012. [verification needed]
- ^ "Online accounting firm FreeAgent tops Deloitte growth list". BBC News. 13 November 2013. [verification needed]
- ^ "FreeAgent". www.seedrs.com. Retrieved 27 March 2019.
- ^ "FreeAgent £1m crowdfunding to drive 're-invention'". www.scotsman.com. 21 May 2015. Retrieved 9 January 2021.
- ^ "London Stock Exchange welcomes FreeAgent to AIM". London Stock Exchange Group. Archived from the original on 20 January 2021. Retrieved 9 January 2021.
{{cite news}}: CS1 maint: bot: original URL status unknown (link) - ^ "FreeAgent taken over by RBS in £53m deal". www.scotsman.com. 27 March 2018. Retrieved 9 January 2021.
