Georges Lands $42.4 Million For SMB Accounting Software

European upstart Georges, which will be now known as Indy, is raising $42.4 million in new investment. Indy has been at work developing accounting software for small businesses and gig workers. Indy has reportedly been able to get 40,000 customers who pay a recurring charge on a monthly basis to harness the service, according to reports.

To use Indy, users link the service to their bank accounts. After that time, Indy retrieves their transactions and attempts to label the greatest number of transactions that it can. Users can provide missing information along with invoices and receipts. At the conclusion of this process, users will know the amount of VAT they are meant to receive at the conclusion of the year.

Moreover, users can harness the company’s technology to receive a high-level view of their enterprise. To that end, users can monitor expenditures, view corporate sales, and view that amount that they earn annually depending on individual expenses and compensation.

Indy has been looking into the United States as a possible market, and it intends to bring 100 individuals onboard this year in Lyon.

The news comes as Bookkeeper360 recently landed $1 million in seed funding. With the new infusion, the firm intends to keep expanding and building out products with its current Business Intelligence Software.

The new round came with assistance from two Etsy angel investors, Judson and Spencer Ain, who aim to bring strategic help to the firm’s board of advisors.

“Enabling small businesses to have the tools to succeed has been at the forefront of companies we look to invest in,” Judson Ain said in a recent release.

In September, Bookkeeper360 had rolled out its Bookkeeper360 App to assist clients in receiving live data points, cash burn analysis, scorecards and performance dashboards.

In other news, AlignBooks, the cloud-based accounting software solution company, will be working with private-sector financial institution (FI) ICICI Bank to provide a new, streamlined online banking experience for small and medium-sized businesses (SMBs).