11 February 2019

My Digital Accounts raises £1.3m from the Northern Powerhouse Investment Fund to expand headcount and marketing.

The Northern Powerhouse Investment Fund backed the accounting software provider to support team growth and apprenticeship schemes.

£1.3M

My Digital Accounts provides cloud-based accounting and payroll software designed for accountants managing clients across sectors such as retail, leisure, IT and construction.

My Digital Accounts has secured £1.3m from the Northern Powerhouse Investment Fund, via Maven Fund Managers, to scale its operations. The business plans to allocate the capital towards doubling its headcount, creating an IT apprenticeship hub, and boosting marketing efforts around the Making Tax Digital campaign.

Founded in Wilmslow, the company supplies cloud software tailored for accountants dealing with temporary workers and complex tax regulations. Alongside its existing subsidiary in India, leadership has signalled ambitions for further international growth as tax systems evolve globally.

From the founder

"This investment from NPIF, will help My Digital Accounts scale its marketing activities to raise awareness of its product offering, particularly to support companies in HMRC’s widely-publicised Making Tax Digital (MTD) initiative which affects all companies with turnover in excess of £85,000."

John Whelan

Founder at My Digital Accounts

Investor perspective

"My Digital Accounts is a company with a unique and useful product which is set to guide both businesses and individuals alike through the process of managing their taxes. With this important offering and global presence through its subsidiary in India, this company is primed for expansion; we’re pleased to be able to support its headcount growth and marketing activity with this investment."