KashFlow has secured a second round of capital funding, the company has said.

It has now agreed a second round of capital funding from the Lord Young of Graffham, former executive chairman of Cable & Wireless and secretary of state of Trade & Industry, it said in a press release today.

Since KashFlow received its first round of funding in January 2006 the company has tripled its turnover and customer base. The second round of funding will enable the KashFlow management team to achieve further market penetration in its target market of small-to-medium-sized-enterprises, as well as strengthen its ‘direct to accountants’ division that launched in late 2006.

KashFlow's small business accounting software is designed for Mac and Windows and can be used by professionals and non-accountants alike.