Nomisma Solution, which claims to be a “true” end-to-end SaaS suite built for accounting firms & SME clients, has secured 100% (£503,0901) of its £500,000 target from 98 investors (at the time of writing) through its crowdfunding campaign via Crowdcube (with 22 days left in the sale).
The firm offers Equity: 3.23%; reports a pre-money valuation of £15,205,939; a £4.25 share price.
As explained by its management, Nomisma is “a true end-to-end SaaS suite built for accounting firms & SME clients, with a single interface covering everything from bookkeeping and payroll to tax and full CRM.”
With 600+ practices enrolled, “using it on 10,000 of their clients, Nomisma are now raising to ramp up sales and marketing.”
Here are the key business higlights:
- 100%+ YOY customer growth, 72% YOY revenue growth in FY 2022 (EBITDA -£1.46m)
- 600+ practices already signed up, using it on 10,000+ SME clients
- 5.6m UK small businesses & 42k Accounting/Bookkeeping firms to target
- UK SME/accounting practice software market worth an estimated £900m+ in 2020
As noted in the update, Nomisma is “a cloud-based, integrated suite, purpose-built to help UK bookkeepers and accountants in practice to work with SMEs on their books and payroll in collaboration with advisors, or independently.”
Designed to help a market of 42k UK bookkeepers, “this opens up access for Nomisma to be used by a portion of the 5.6m SMEs in the UK.”
Accounting firms typically “use different packages for their ‘front office’ bookkeeping and payroll and their ‘back office’ accounts, tax, and workflow management, even though they need the same information.”
Data transfer over this gap “costs time and risks error.”
As mentioned in the update:
“Worse still, for the smallest sole trader clients, the next stage of HMRC’s ‘Making Tax Digital’ initiative requires a shift to digital record-keeping and quarterly (from annual) submissions. We believe that Nomisma closes the gap with these practice functions, and more, in one place. Potentially replacing 6-8 different products can also cut costs by a possible 50%+, on top of the time saving.”
They team also shared:
“We aim to make switching painless, helping with data migration, training, and phone support.”
Operated as an in-house system from 2014 to 2020, Nomisma was “reengineered for the open market and relaunched in 2021. 600 practices, dealing with 10k business clients, already use it and revenue grew 72% YOY to £514k in FY2022.”
Further investment “is sought to accelerate marketing and help to reshape this market.”
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