Financial admin startup Anna Money has landed £8.5m in funding from Kinetik, as the banking app aims to take on the big leagues.
Anna, which offers a digital admin assistant, current account and banking debit card for small businesses, said it is preparing to launch several new tools in anticipation of HM Revenue & Customs' upcoming Making Tax Digital scheme.
The app launched in autumn last year and now has more than 3,500 customers.
"We collaborate with the businesses that share our values and want to bring life-changing products into the world," said Kinetik's director Anthony Julius.
"Anna is very different from typical fintech startups and it’s been created by brave and progressive entrepreneurs. So we’re excited to partner [with] Anna and contribute to its future expansion."
The London-based firm said it plans to use the funding to grow its customer experience team.
Eduard Panteleev, co-founder and chief executive of Anna, added: "Kinetik’s investment is invaluable in helping us create more useful tools and services that are vital to making [life] easier for our customers; the imaginative and visionary, dedicated and hardworking people behind all small and medium sized businesses."