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Status: Active

May 31st 2021 - Jul 16th 2021

Stretch

MyT is a cloud-powered subscription-based accounting software designed for small businesses that allows them to submit financial information to Her Majesty's Revenue and Customs (HMRC) under the Making Tax Digital initiative, which is mandatory from April 2023. MyT asserts that its app provides businesses with a simple way to keep track of business finances on the go, send and manage invoices and bills, and record expenses and mileage. The company claims that its app is available on App Store and Google Play and has witnessed 1000+ downloads to date. It claims that it has onboarded over 500 users without any extensive marketing spend. MyT will use half of the investment to implement its marketing plan, a third for developing new technology and the remaining for administrative expenses.

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MyT Rating Review

Pitch rating powered by CROWDRATING

Rated on 12/07/2021

Pitch Rated

73%

overall

Management

71%

Product

71%

Investment

76%

  • £133,543
    pledged
  • 133%
    of goal

    £100,003
    target

    £1,624,327
    pre-money valuation

    5.80%
    equity available

    240
    investors

    £556
    pledge per investor

    10745708
    company number

    Active
    company status

    28/04/2017
    incorporated 4 years

    Previous Funding rounds
    31 May 21 Seedrs £133,543 / 134% 72.67%

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating

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.

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Management 71%

Skills 64%
MyT has assembled a team of professionals who have built many successful brands on the market today. As per the profiles listed publicly and on LinkedIn, the Founder/CEO is an accounting specialist and entrepreneur skilled in financial accounts, management accounts, budgeting, forecasting, managerial finance, and corporate taxes. The CTO has expertise in numerous technologies and languages including, HTML, Hadoop, PHP, Big Data, Java, MySQL, C++, Python and many more. The Senior Software Developer is skilled in Java, VB.NET, ASP.NET, HTML and C++. In addition, the team is supported by a Non-Executive Director who has a strong background in supporting businesses to raise finance and the strategies to accomplish business growth. It was noted that they have not as yet appointed a dedicated sales and marketing head.

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Funding progress



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  • £133,543
    pledged
  • 133%
    of goal

    £100,003
    target

    £1,624,327
    pre-money valuation

    5.80%
    equity available

    240
    investors

    £556
    pledge per investor

    10745708
    company number

    Active
    company status

    28/04/2017
    incorporated 4 years

    Previous Funding rounds
    31 May 21 Seedrs £133,543 / 134% 72.67%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

As seen in:

  • The Guardian
  • Financial Times
  • Yahoo! Finance
  • The Times
  • The Daily Telegraph