EPISODE · May 20, 2021 · 56 MIN
Collective Raises $20 Million To Not Be An "Accounting Firm"
from The Accounting Podcast · host Blake Oliver & David Leary
SponsorsSynder: https://cloudaccountingpodcast.promo/synderOdoo: https://cloudaccountingpodcast.promo/odooRelay Financial: https://cloudaccountingpodcast.promo/relayShow Notes02:15 – $58,508: The Average Starting Salary for New Accounting Gradshttps://www.goingconcern.com/58508-average-starting-salary-new-accounting-grads-2021/ 3:44 – Fintech Startup Offers $500 for Payroll Passwords https://krebsonsecurity.com/2021/05/fintech-startup-offers-500-for-payroll-passwords/ 6:07 – Railz Raises $12 Million Toward API Developmenthttps://www.pymnts.com/news/investment-tracker/2021/railz-raises-12m-toward-api-development/ 8:04 – Kabbage, FinTechs Under PPP Distribution Scrutinyhttps://www.pymnts.com/loans/2021/report-kabbage-fintechs-under-justice-department-scrutiny-for-ppp-loan-distribution/ DOJ reportedly investigating Kabbage, fintech lenders, over PPP loanshttps://www.bankingdive.com/news/doj-reportedly-investigating-kabbage-fintech-lenders-over-ppp-loans/599888/ 11:37 – Collective, a back-office platform for the self-employed, raises $20M from Ashton Kutcher’s VChttps://techcrunch.com/2021/05/12/collective-a-back-office-for-the-self-employed-raises-20m-from-ashton-kutchers-vc/ 14:37 – Announcing Collective $20M Series A to Support the Rise of Businesses-of-One — Collective Bloghttps://www.collective.com/blog/news/collective-20-million-series-a/15: 51 – Blake’s discussion on Collective with CAP listener, Michael Eckstein 17:29 – The Collective Disclaimerhttps://www.collective.com/ 20:45 – Banking App Lili Raises $55 Million To Help Freelancers Tackle Expenses, Access Credithttps://www.forbes.com/sites/ninawolpow/2021/05/11/banking-app-lili-raises-55-million-to-help-freelancers-tackle-expenses-access-credit/ 25:56 – Xero FY21 revenues rise 18% to £432m | Newshttps://www.accountancytoday.co.uk/2021/05/13/xero-fy21-revenues-spike-18/ 26:03 – Xero scores subscriber surge despite slowed revenuehttps://www.accountantsdaily.com.au/business/15693-xero-scores-subscriber-surge-despite-slowed-revenue Xero’s FY21 through the eyes of our customers and people | Xero Bloghttps://www.xero.com/blog/2021/05/fy21-through-their-eyes/ Xero’s full year 2021 financial resultshttps://www.xero.com/blog/2021/05/full-year-2021-financial-results/ 32:25 – Digital bank Relay raises $19.4 million to automate financial management for small businesshttps://www.prweb.com/releases/digital_bank_relay_raises_19_4_million_to_automate_financial_management_for_small_business/prweb17934174.htm 37:55 – Sage's profits fall 30%, but accounting software boosts organic revenues | This is Moneyhttps://www.thisismoney.co.uk/money/markets/article-9578771/Sages-profits-fall-30-accounting-software-boosts-organic-revenues.html 39:50 – Introducing the Subscription Economy Income Statementhttps://www.subscribed.com/read/subscription-strategy/introducing-the-subscription-economy-income-statement?fbclid=IwAR2WHUUr4bE9pe0EUtHze0PuCBP3SpQdogHC3Z78YnvZvJhHOOMr1iywzSo 42:52 – WeWork CEO Says Least Engaged Employees Enjoy Working from Homehttps://www.accountingtoday.com/articles/irs-needs-more-than-audits-to-find-tax-cheats-former-chief-says 45:07 – Driving Engagement in a Remote Work Worldhttps://www.cfo.com/workplace-issues/2021/04/driving-engagement-in-a-remote-work-world/ 46:53 – The hybrid workplace probably won’t last - The Boston Globe https://www.bostonglobe.com/2021/05/09/opinion/hybrid-workplace-probably-wont-last/Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merch...
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What this episode covers
We've got a lot to talk about today, including how accounting first-year salaries are on the rise, and what Kabbage did to become under investigation for PPP fraud. In raises, we've got news on Collective's $20 million raise (in part from Ashton Kutcher) to support conquering the S corp freelancer market, and Relay Financial's $19 million raise to support their modern banking services focused on the accountant's use case, while Lili raises a cool $55 Million for helping freelancers tackle their expenses, and access credit. We're also talking about employee engagement in light of WeWork's CEO's comments on the subject, and diving into the subscription-based world we now find ourselves in. All this and much more!
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Collective Raises $20 Million To Not Be An "Accounting Firm"
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