iplicit Targets Unicorn Status with £25M Funding

Deal News | Jan 27, 2025 | Business Cloud

iplicit Targets Unicorn Status with £25M Funding

iplicit, a London-based cloud accounting software platform, has raised £25 million from One Peak, marking its first institutional funding round. The investment will enable iplicit to accelerate product development and expand its reach in the mid-market sector. Since its launch in 2019, iplicit has achieved annual triple-digit revenue growth and now supports over 2,000 organizations. The company aims to become a leading cloud accounting solution in the UK and seeks unicorn status with this latest financial boost. One Peak's contribution is seen as pivotal in redefining accounting software for UK businesses that have outgrown basic systems.

Sectors

  • Financial Technology (FinTech)
  • Software Development

Geography

  • United Kingdom – The primary focus of iplicit's expansion and market is within the UK, as it aims to strengthen its position as a leading cloud accounting solution for the UK mid-market.
  • Europe – Placement in the FT1000 list of Europe's fastest-growing companies indicates that iplicit's operations and growth are recognized at a European level.

Industry

  • Financial Technology (FinTech) – The article discusses a cloud accounting software platform, which is a key area within the Financial Technology sector, aiming to improve financial operations for businesses.
  • Software Development – The core offering from iplicit is a software product, placing it within the Software Development industry focused on creating systems to support business operations.

Financials

  • £25 million – The investment amount provided by One Peak to iplicit for growth and product development.

Participants

NameRoleTypeDescription
iplicitTargetCompanyA cloud accounting software platform based in London, targeting UK mid-market businesses.
One PeakInvestorCompanyA tech growth investor providing £25 million investment to iplicit for product development and expansion.
Lyndon StickleyCEOPersonCEO of iplicit, leading the company through its recent funding round and growth strategy.
Humbert de Liederkerke BeaufortCo-founder/Managing PartnerPersonCo-founder and managing partner at One Peak, expressing commitment to iplicit's growth.