Coconut automates bookkeeping and tax for sole traders. The company argues that in the next 24 months, 3.5 million sole traders in the UK will be required to complete 4 tax submissions a year instead of 1, in light of Her Majesty's Revenue and Customs (HMRC's) Making Tax Digital (MTD) initiative. Coconut aspires to become the leading sole trader finance and MTD product in the UK targeting the aforementioned audience. Coconut asserts that its total revenue grew by 174% in 2020 despite COVID-19. It also claims to have onboarded 8,000 paying customers, registered a 174% revenue growth in 2020, and signed 2,800 accountants on its portal to date. Coconut connects with over 25 banks, giving automatic tax insights using banking data based on the principles of 'Open Banking'. The company will use the investment to target 100 million+ self-employed businesses in Europe and North America and grow its business across different verticals.
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Coconut Rating Review
Pitch rating powered by CROWDRATING™
Rated on 15/07/2021
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£18,003,459
pre-money valuation
10.03%
equity available
2,324
investors
£863
pledge per investor
09904418
company number
Active
company status
07/12/2015
incorporated 9 years
£0.02
share price
Previous Funding rounds
25 Apr 24 | Crowdcube | £2,006,334 / 287% | 54.67% |
25 Apr 24 | Crowdcube | £1,857,450 / 371% | |
11 Jun 20 | Crowdcube | £2,375,544 / 339% | 74.33% |
News
12 Best Coconut Perfumes to Wear (Tested and Reviewed for 2024) - Cosmopolitan
22/04/2024 Cosmopolitan
“The Messi Experience” opens in Coconut Grove - NBC 6 South Florida
25/04/2024 NBC 6 South Florida
Co-op Drops Thai Coconut Milk After Monkey Abuse Exposé - PETA UK
02/04/2024 PETA UK
See All the Stars Who Have Raved About Getting the Famous Tom Cruise Coconut Cake - PEOPLE
11/04/2024 PEOPLE
Coconut oil for Alzheimer's – separating fact from fiction - Alzheimer's Research UK
14/02/2024 Alzheimer's Research UK
3 new restaurants coming this fall to Coconut Point - Gulfshore Business
25/04/2024 Gulfshore Business
Coconut water: Benefits for skin health, according to nutritionists - British GQ
27/10/2023 British GQ
Sri Lankan restaurant The Coconut Tree looks to crowdfunding for growth - The Business Magazine
24/03/2024 The Business Magazine
Coconut Tree launches £1m fundraise as it targets 50 restaurants - The Caterer
09/01/2024 The Caterer
What Happens to Your Body When You Drink Coconut Milk Every Day - EatingWell
18/04/2024 EatingWell
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What the ratings mean
RISK WARNING - The ratings are based on the information provided in the fund raiser’s pitch deck, business plans and financial forecasts which have appeared on a FCA regulated crowdfunding site. Where possible we validate the business plan to public sources such as LinkedIn, Companies House, Credit Agencies and internet searches. We cannot guarantee the information is correct. The ratings report takes no account of the investors/ individual circumstances. Do your own due diligence and get professional advice before investing. Your capital is at risk when investing in private companies.