High growth startup poised for global expansion
Monday, 01 February 2016
A New Zealand online accountancy service, Beany, has rebranded and launched a new beany.com platform as part of a global expansion programme.
Beany uses cloud technology to process business financial statements, GST and tax returns and other traditional accountancy functions in a ‘virtual’ environment.
“We created Beany because we saw a growing need for small businesses and contractors to interact more efficiently with their accountants. We wanted to create real value for New Zealand enterprise,” says Founder and CEO, Sue de Bievre.
“The old accounting model of stuffy boardroom meetings and large bills is no longer relevant to the way small business owners are running their businesses and their lives,” says Sue. “Our model of fixed fees for a full service is definitely attractive for business owners who had been searching for an accountant who works the same way they do.”
Beany’s growth has been rapid since launching in 2014, and was boosted by an Enterprise Angel investment of $0.5m in mid-2015.
“We tripled our client base in 2015,” says Sue, “and have just rebranded and rebuilt our online shopfront in anticipation of launching offshore. We have used this opportunity to switch to a dot com domain and improve our security, as well as fine-tuning the user interface to ensure we’re ready for a wider customer base.”
The Beany service was recognised as a Finalist in the Auckland Chamber of Commerce Business ‘Innovation’ Awards in 2014 and has received development funding from Callaghan Institute.
“By using technology and all the efficiencies it provides, we have removed all unnecessary overhead costs and can therefore offer affordable fixed price accounting services,” says Sue. “Our business is structured to empower clients to engage with us on their terms. It’s a refreshing take on a traditionally staid model.”