Accounting platform iplicit has unveiled a £25m investment from leading technology growth investor One Peak as it prepares to scale the business.

The London-based company, has built a cloud accounting platform tailored for businesses that have outgrown basic entry-level systems or who have challenges with legacy on-premises vendors.

By delivering the advanced functionality and performance of upmarket systems at lower cost, the tech helps to ensure that businesses can future-proof their financial operations as they grow.

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

The firm, which reported annual recurring revenue of £3.1m in 2023, said its turnover more than doubled in 2024 and that it has achieved triple-digit revenue growth annually for six consecutive years since it was founded in 2019.

CEO Lyndon Stickley said, “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.”

Last year, the company was named on the Deloitte UK Technology Fast 50 and an 18^th-place ranking among UK businesses in the FT1000 list of Europe’s fastest-growing companies. iplicit also earned a top 10 placement in the Sunday Times ‘Best Places to Work’ awards. The company now serves over 2,000 organisations, supporting more than 38,000 daily users.

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