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Milestone points to an integrated banking future for small businesses

Today, at Xerocon, the UK’s leading cloud accounting software provider has announced it has surpassed a quarter of a million (253,000 as of 30 September 2017) small business subscribers in the UK. This achievement comes as the company extends its market-leading position in the UK, Australia, New Zealand, while expanding globally.

Xero is strongly positioned for growth as the digitisation of UK businesses continues, fueled by the upcoming implementation of “Making Tax Digital”. Having first introduced the UK to the concept of bank feeds in 2009, in the past year Xero has established technical partnerships with every major bank in the UK with the aim of digitising the finances of British SMBs.

This week Xero also announced that it is deepening its existing partnerships in the UK with HSBC and Banco Santander, paving the way for enhanced banking services on Xero’s platform.

Xero Founder and CEO Rod Drury commented: “We’re excited to celebrate this key milestone with our valued community of accountants, bookkeepers and ecosystem partner at Xerocon London this week. Passing through quarter of a million UK subscribers with a focus on strong revenue growth as well, sends clear signals that our global platform is delivering powerful value to accountants, bookkeepers and small businesses – and we are only getting started.”

Xero’s Managing Director for the UK and EMEA Gary Turner commented: “It’s very encouraging to see growth continuing to accelerate in such a large and important global market for us. And it’s particularly gratifying to see our significance to the UK market translating into closer relationships with the UK’s banking community in the past 12 months.

Earlier this year, Xero expanded its UK headquarters in Milton Keynes to accommodate new sales and customer experience staff. From just seven staff in 2012, Xero now employs more than 200 staff in the UK and more than 1,800 globally who are based across 21 offices.

Sponsored by HSBC, Xerocon this year will host more than 2,000 accountants, bookkeepers, and ecosystem partners representing 24 countries and showcase the biggest wave of new products as Xero evolves from online accounting software to a global small business platform to help grow millions of businesses around the world.

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