ANNA Money
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| Private | |
| Industry | Financial technology |
| Founded | April 2017 |
| Founders | Andey Pachay, Boris Dyakonov (Diakonov), Daljit Singh, Eduard Panteleev, Nikita Filippov, Slava Akulov |
| Headquarters | London, England, UK |
| Services | Business bank account, debit card, bookkeeping, tax filing, company formation, ChatBot |
Number of employees | 50-150 (2023) |
| Website | [// ] |
Absolutely No Nonsense Ltd (ANNA Money) is a UK-based financial technology company that provides business account services for small and medium-sized enterprises and sole traders with embedded tax compliance. It offers a corporate debit/credit card, bookkeeping services, tax calculations and filing, company formation, as well as payroll software.[1].
ANNA Money was established in 2017 as a digital-first financial services company for UK businesses. It has registered offices in Cardiff, Wales.
History
ANNA was founded by Eduard Panteleev, Boris Dyakonov, Slava Akulov, Nikita Fillipov, Andrey Pachay and Daljit Singh in 2017. The company was first registered on 27 April 2016[2]. It operates under Payrnet’s[3] e-money licence and is approved by Financial Conduct Authority. The company does not currently have a banking licence or physical branches.
Initial development of the ANNA platform started in 2017 and continued for a year before the beta was launched in April 2018[4]. Following this, it had a full launch in September 2018[5].
The ANNA brand identity was developed in conjunction with Michael Wolff[6].
In April 2019, ANNA partnered with TrueLayer to provide open banking-based services for its clients[7].
In October 2019, ANNA launched an equity crowdfunding campaign[8] on Seedrs with a goal of raising £3 million. Public investors were offered a 20.00% discount relative to later equity purchases. The campaign was successful[9].
From May 2020, USD and EUR payments were able to received through a partnership with digital payment platform Payoneer[10]. Further international payment options were added through a partnership with CurrencyCloud in August 2021[11].
In June 2020, ANNA was impacted by the insolvency of German payment provider Wirecard[12] along with several other UK fintech companies (including Curve, Pockit and U Account)[13]. For a brief period all cards and accounts were suspended until an alternative payment provider was put in place[14].
In June 2023 ANNA launched a chatbot trained through large language models of over 100,000 HMRC tax guidelines.
Funding
In July 2017 ANNA raised £5.5 million in an initial seed round from funders and angel investors.
In February 2019 ANNA raised GBP 10 million investment from tech investment company Kinetik[15].
In May 2020 ABH Holdings S.A invested over $34m in two rounds into the company and acquired a majority stake in ANNA at an implied valuation of $110m[16]
In June 2022, ANNA severed ties with ABHH[17] due to the Russian invasion of Ukraine. the removing any connection to FIBR, ABH’s financial technologies investment arm. Following this, the business is fully owned by its founders.
Services
ANNA provides a variety of financial services for sole traders and small businesses. This is a section of the market the company believes is traditionally underserved by traditional banks. The core service is a business debit card and current account. Expense cards are issued by PayrNet LTD pursuant to licence by Mastercard International Inc.
ANNA users can interact with the service through iPhone and Android devices as well as desktop computers. This allows them to create, send and monitor the payment of invoices.
Payments made with ANNA debit cards trigger real time push notifications to mobile phones that support the ANNA app. ANNA push notifications are accompanied by the sound of a miaowing cat.[5]
Other services include tax support, which provides automated bookkeeping, automated VAT and Corporation Tax calculations and filing as well as PAYE and other payroll services. The company formation service lets users register a limited company with Companies House.
References
- ↑ "Find payroll software that is recognised by HMRC - GOV.UK". gov.uk.
- ↑ "ABSOLUTELY NO NONSENSE ADMIN LTD overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk.
- ↑ "Who Are Payrnet?". railsr.
- ↑ "Anna to launch business current account for creative UK SMEs". specialistbanking.co.uk.
- ↑ 5.0 5.1 Whateley, Laura (November 6, 2023). "Want your debit card to miaow when you pay? Anna can make it happen" – via www.thetimes.co.uk.
- ↑ Mclaughlin, Aimee (September 3, 2018). "Meet ANNA, the app that helps creatives keep on top of their finances". Creative Review.
- ↑ "TrueLayer and Anna Money form Open Banking alliance". Finextra Research. April 24, 2019.
- ↑ "Update: Anna Money Surpasses £3.5 Million In Funding Through Seedrs Round | Crowdfund Insider".
- ↑ "Anna Money". www.seedrs.com.
- ↑ Walker, Mark (May 18, 2020). "Payoneer and ANNA Banking App Partner to Streamline International Payments with Artificial Intelligence".
- ↑ "ANNA Money to offer international banking via Currencycloud solution". ffnews.com.
- ↑ https://www.theguardian.com/business/2020/jun/26/wirecard-uk-ordered-to-freeze-customer-funds-by-finance-regulator
- ↑ "Wirecard scandal hits UK consumers as online banking apps freeze accounts". CNBC.
- ↑ "Relief for thousands as Wirecard's UK freeze ended". Yahoo.com.
- ↑ "SME Business Banking Startup Anna Money Secures £8.5 Million Investment From Kinetik | Crowdfund Insider".
- ↑ "Fintech ANNA nabs €19.7 million for its SME app and debit card that "miaows"". EU-Startups.
- ↑ "Anna Money Founders Cut Ties to Sanctioned Russian Billionaires". Bloomberg.
External links
This article "ANNA Money" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.