Founder: Adam Goodall and Sam O’Connor
Business: An online platform designed for the self-employed, helping to manage users’ accounting and tax.
Founded in 2016, Coconut provides an innovative service, helping the self-employed, freelancers and small business owners to manage their accounting and tax. Coconut helps to manage users’ expenses, invoicing and tax all in one easy-to-use platform.
Users can connect their current accounts to the Coconut platform, where they’ll get a complete overview of their business’s accounts. Alternatively, Coconut also offers its own business current account, available to open up in minutes using your phone.
Coconut helps to streamline your accounting processes, automatically categorising business expenses for tax, enabling you to create and send out invoices, all whilst estimating the amount of tax you’ll owe. The platform also works seamlessly with user’s accountants, and even offers accountants of their own, with a range of subscriptions available to suit your business’s requirements. The startup claim:
“Working for yourself presents a number of unique challenges. It’s all too easy to waste your valuable time on things like tracking your expenses, getting paid on time by clients, or worrying about your dreaded tax return. Traditional products like cloud accounting packages and business bank accounts haven’t kept up with the fast-paced way we work today.”
“Self-employment and entrepreneurship is the biggest shift in the way we work for a generation, and we’re building Coconut to be the platform to enable this economy to boom.”
“Our mission is to free millions of people from accounting and tax admin worldwide, by bringing all the tools you need to run your business into one simple product.”