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KEVIN STENT/Stuff
James Fuller, CEO and co-founder of Hnry,
Wellington software firm Hnry, which provides an app to help the self-employed manage their accounts, has secured a $35 million investment with plans to double its staff strength to 150.
Co-founder James Fuller says the “substantial investment” will enable the company to reach more sole traders on both sides of the Tasman.
“This significant investment sets us up really well for the future,” he said.
“Our investors can see the potential for Hnry to grow, enter new markets, as well as develop and offer new products and services.”
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Fuller said in the past 12 months, the company had tripled its revenue. This year it was looking to release new products and services.
The additional funding came from Airtree, one of Australia’s largest venture capital firms, Athletic Ventures (an Australian investment firm of high-profile athletes), along with New York’s Left Lane Capital and New Zealand’s Icehouse Ventures.
Fuller said the move would enable them to double staffing at a time when New Zealand is seeing job vacancies plummet.
STUFF
Technology companies are being lured to Christchurch and could pump millions of dollars into the local economy (video first published in April).
Hnry, founded in 2017, is an all-in-one digital accounting service used by independent earners, contractors, freelancers, and self-employed tradies to automate payments, and handle financial administration and tax compliance.
It says it helps save freelancers and sole traders from about five hours a week worth of financial administration and about $236 a month compared to other traditional accounting services and software.
Since 2018, Hnry has raised nearly $60 million in investment.
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