Online accountant gets £6m funding boost

‘Web accountant’ Ascot Drummond provides services such as the management of accounts, payroll, bookkeeping, taxation issues and statutory requirements.

These can be accessed on clients’ personal websites 24 hours a day, seven days a week from anywhere in the world.

The venture estimates it has a ‘market potential’ of 3.2m small and medium-sized businesses in the UK.

Immediate plans for the investment include a new operations division to be based in Dundee and a major IT recruitment drive.

The venture already has a 450-strong client base.

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