British fintech iplicit secures £25M for cloud accounting platform

iplicit, a UK-based cloud accounting software platform, has raised £25M from One Peak.

iplicit is a cloud-based accounting software that helps businesses manage their finances. It can help with tasks like tracking inventory, generating reports, and managing accounts payable and receivable. 

This new investment marks iplicit’s first external institutional funding round and will be used to accelerate product development. 

Since its launch in 2019, iplicit has rapidly grown to serve over 2,000 organisations, supporting more than 38,000 daily users.

CEO Lyndon Stickley commented: “This investment marks a pivotal milestone in iplicit’s remarkable journey. Since our launch in 2019, we’ve achieved triple-digit revenue growth annually for six consecutive years.

"This new funding will enable us to sustain our momentum, continue delivering an exceptional experience for our customers, and solidify our position as the leading cloud accounting solution for the UK mid-market.” 

“We are thrilled to partner with iplicit on its journey to redefine accounting software for the UK mid-market,” added Humbert de Liederkerke Beaufort, Co-founder and Managing Partner at One Peak. “iplicit’s award-winning, intelligent, powerful, and intuitive cloud accounting software, along with best-in-class customer support, makes it a standout leader in its category.”