PrePay Solutions Powers First UK Business Banking App with Invoicing and Expense Capabilities

Leading digital banking and payments provider offers its continued support as Countingup launches new solutions to meet the accounting demands of small businesses

PrePay Solutions (PPS), subsidiary of Edenred the world’s leading corporate payments organisation, is supporting Countingup to become the first mobile bank in the UK to offer invoicing and expense tools.

First launched in 2018, the revolutionary PPS-powered mobile app initially allowed small businesses to do banking, bookkeeping and stay on top of their taxes. Building on this comprehensive product offering, the new invoicing and expense tracking tools are tailored to fit the specific needs of the UK’s small businesses.

PrePay Solutions played a key role in the creation of the Countingup’s services and its new additions by creating, operating and managing the infrastructure. The technical platform was designed to streamline accounting services, as well as provide business owners with a snapshot of their financial health.

“On a continuous mission to make the running of businesses smoother, Countingup is already popular across the UK.”

Since launching, it has processed over £100 million transactions and received £8 million in customer deposits for over 8,000 small business customers. The new offering will make Countingup even more appealing to business owners.

Backed by leading venture capital firms, Forward Partners, Frontline Ventures, Jam Jar Investments and partnered with PPS, the company is continuing to develop innovative accounting solutions. As such, plans are already in place to launch to grow the app with additional billing and VAT filing tools, as well as enabling multi-user access – PPS will power the app as it develops.

Ray Brash, CEO at PrePay Solutions commented: “At PrePay Solutions we are always on the lookout to support innovative technology companies that are providing tools to help UK businesses run more smoothly. We are thrilled to power the Countingup app as it provides the UK with streamlined accounting tools for the first time. The company has proved itself to be incredibly forward-thinking and we can’t wait to power their upcoming product offerings.”

Tim Fouracre, CEO and founder at Countingup, commented: “We are delighted to be working with PPS’ team of experts – who have helped strengthen our incredibly comprehensive range of accounting features. Our app enables business owners to use one streamlined software for most of their accounting needs – no longer needing to juggle several methods. We have exciting plans on the horizon and look forward to continuing work with PPS.”