ANNA Money, the AI-powered business account and tax app, has secured £10million in growth debt from Flashpoint Ventures. The funding will be used to accelerate the scaling of its “Auto Accountant” solution as UK small businesses prepare for major regulatory changes under Making Tax Digital (MTD).
The investment follows a strong year for the fintech, which reports hitting £30million in annual recurring revenue (ARR) and now supports over 50,000 UK small businesses each month.
AI doing the heavy lifting
ANNA’s pitch to investors and customers alike revolves around its proprietary AI, which claims to automate the vast majority of tax administration. According to the company’s 2024 figures, 88 per cent of corporation tax filings were handled end-to-end by its AI with no human intervention.
For VAT returns, 89 per cent were filed with “minimum effort,” and 54 per cent were fully automated.
The system is designed to understand context—distinguishing, for example, that tyres bought by a mechanic are inventory, while those bought by a taxi driver are maintenance expenses. It also flags allowable deductions often missed by SMEs, such as working-from-home costs and mobile bills.
Preparing for MTD for ITSA
The funding comes at a critical time for the UK’s self-employed sector. From April 2026, Making Tax Digital for Income Tax Self Assessment (ITSA) will mandate that self-employed individuals and landlords with an annual income over £50,000 move from annual returns to quarterly digital updates.
ANNA’s platform offers an MTD-ready solution designed to automatically prepare and submit these digital updates once a business account is connected.
Eduard Panteleev, co-founder and co-CEO of ANNA Money, commented: “This funding gives us the firepower to scale at exactly the right moment. As Making Tax Digital for self assessment comes into force for around 850k self-employed people and landlords next year, demand for smart, automated accounting is accelerating fast.”
Panteleev highlighted the efficiency gains driven by the technology: “ANNA’s AI-driven systems mean a single human accountant can work across up to 12,000 businesses—the technology does the rest. That level of efficiency allows us to grow rapidly while maintaining exceptional customer service.”
With the new capital, ANNA is doubling down on its “self-drive” accounting vision, aiming to become the leading tax SaaS platform for small businesses in the UK. The company has set its sights on a revenue milestone of £100 million as adoption of AI accounting tools becomes the default for the sector.
