Iplicit raises £25m from One Peak to accelerate product development and expansion
One Peak led the first institutional funding round for the cloud accounting platform.
Iplicit provides cloud accounting software tailored for the mid-market in the UK.
Iplicit has secured £25m in its first institutional funding round from One Peak to accelerate product development and market expansion. The London-based cloud accounting platform has experienced rapid growth since its launch, challenging established incumbents in the financial software sector. The fresh capital will allow the firm to enhance its software capabilities and support migrations for organisations moving away from legacy systems.
Founded in 2019, the company targets the mid-market segment with financial management tools designed as an alternative to traditional platforms. Leadership expects the investment to sustain commercial momentum and reinforce its competitive standing against established market participants.
From the founder
"This investment marks a pivotal milestone in iplicit’s remarkable journey. Since our launch in 2019, we’ve achieved triple-digit revenue growth annually for six consecutive years. This new funding will enable us to sustain our momentum, continue delivering an exceptional experience for our customers, and solidify our position as the leading cloud accounting solution for the UK mid-market."
Lyndon Stickley
CEO at Iplicit
Investor perspective
"iplicit’s award-winning, intelligent, powerful, and intuitive cloud accounting software, along with best-in-class customer support, makes it a standout leader in its category. This investment underscores our belief in iplicit’s ability to continue disrupting the market by delivering transformative value to customers who are looking to move away from legacy on-premises vendors or have outgrown the limited functionality provided by entry-level accounting software solutions. We look forward to supporting iplicit’s ambitious vision and next phase of explosive growth."
Humbert de Liederkerke Beaufort
Co-founder and Managing Partner, One Peak
Use of funds
- 01Continue product development
- 02Accelerate go-to-market