Second round of investment values online accountant Crunch.co.uk at £4m

Chamber member Crunch.co.uk is gearing itself up for a period of rapid expansion as Bebo co-founder Paul Birch and former Skype Chairman Michael van Swaaij have announced their second round of significant investment in the firm, as it prepares to reach thousands of customers.

“People thought Crunch.co.uk’s founder Darren Fell was crazy when he set out to establish an online accounting service that did everything a traditional accountant did,” said Michael van Swaaij, Crunch.co.uk’s investor. “But then he got the backing of myself and Paul in October 2009 and the business is already at break-even. Every customer has been stunned by the simplicity of the service. Crunch.co.uk is changing the face of small business across the UK.”

The new investment from the entrepreneurs values Crunch.co.uk at £4m.

“This second round of investment will fuel Crunch.co.uk’s growth as we get ready to scale our business up to serve thousands of freelancers, contractors and small businesses,” said Darren Fell, Crunch.co.uk’s Managing Director and Founder.

“Essentially the business has thoroughly proved its unique concept of expert accountants integrated with the latest online easy-to-use accountancy technology. Michael, Paul and our other investors, are elated with the proven success of Crunch.co.uk’s service.”

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