iplicit secures GBP £25 million for UK market expansion

iplicit, a cloud accounting software platform focused on the UK mid-market, has received GBP £25 million in funding from technology growth investor One Peak.

This investment represents iplicit's first external institutional funding round and is expected to accelerate product development and expansion.

The platform offers a cloud-based accounting solution for businesses seeking more advanced systems than entry-level options or looking to transition from on-premises vendors.

Lyndon Stickley, Chief Executive Officer of iplicit, said, "This investment marks a pivotal milestone in iplicit's remarkable journey. Since our launch in 2019, we've achieved triple-digit revenue growth annually for six consecutive years. 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."

Humbert de Liederkerke Beaufort, Co-founder and Managing Partner at One Peak, expressed confidence in iplicit's future, stating, "We are thrilled to partner with iplicit on its journey to redefine accounting software for the UK mid-market. iplicit's award-winning, intelligent, powerful, and intuitive cloud accounting software, along with best-in-class customer support, makes it a standout leader in its category."

"This investment underscores our belief in iplicit's ability to continue disrupting the market by delivering transformative value to customers who are looking to move away from legacy on-premises vendors or have outgrown the limited functionality provided by entry-level accounting software solutions. We look forward to supporting iplicit's ambitious vision and next phase of explosive growth."

The year 2024 was significant for iplicit, witnessing a 113% increase in revenue and earning multiple accolades. These include recognition on the Deloitte UK Technology Fast 50, the FT1000 list of Europe's fastest-growing companies, and the Sunday Times 'Best Places to Work' awards.

This strategic investment follows a period of self-funded growth for the company. Stickley noted, "The One Peak team is the latest addition to our all-star line-up of investors and advisors. We anticipate 2025 to be another breakthrough year as we expand our marketing efforts and partner network, recruiting top Sage and Advanced resellers and many of the UK's Top 50 accounting practices."

The company is committed to maintaining UK-based engineering, which Stickley cites as a critical factor in their offering. "Our customers value our UK-centric development and support, alongside the power, flexibility, and affordability of our cloud software," Stickley said.

Since launching in 2019, iplicit has quickly expanded, now serving over 2,000 organisations and supporting upwards of 38,000 daily users.

Stickley concluded, "With this new investment and our strengthened leadership team, iplicit is on track for another stellar year in 2025. We're not just aiming to become a tech unicorn – we're set to redefine the accounting software landscape."

iplicit is the cloud-based accounting software provider tailored for the UK mid-market. Trusted by over 2,000 mid-market organisations across the UK and Ireland, iplicit helps customers future proof their financial operations with a robust, intuitive, and cost-effective financial management solution.

One Peak is a specialist growth equity firm that invests in technology companies in the scale-up phase. One Peak provides growth capital, operating expertise, and access to its extensive network to exceptional entrepreneurs, with a view to help transform innovative and rapidly growing businesses into lasting, category-defining leaders.