FreeAgent
 FreeAgent logo used from 2023 | |
| Type | Subsidiary |
|---|---|
| Industry | Software as a Service (SaaS) |
| Founded | 2007 |
| Founders | Ed Molyneux, Olly Headey, Roan Lavery |
| Headquarters | Edinburgh, Scotland, UK |
| Key people | Roan Lavery (CEO) |
| Parent | NatWest Group |
| Website | www |
FreeAgent is a British company that develops cloud-based accounting software for small businesses, sole traders and accountants. Based in Edinburgh, Scotland, it was founded in 2007. The software provides tools for bookkeeping, invoicing, expenses, payroll and tax filing.[1]
FreeAgent was listed on the Alternative Investment Market in 2016 and acquired by the Royal Bank of Scotland Group (now NatWest Group) for £53 million in 2018.[2][3] It had around 225,000 customers in 2025.[4]
History
[edit]FreeAgent was founded in Edinburgh in 2007 by Ed Molyneux, Olly Headey and Roan Lavery. In 2012, it acquired the American financial software startup 60mo as part of an expansion into the United States.[5] In 2013, FreeAgent ranked eighth in the Deloitte UK Technology Fast 50, with five-year revenue growth of 2,128%.[6]
In 2015, FreeAgent raised £1.2 million through the crowdfunding platform Seedrs. The following year, it listed on the Alternative Investment Market (AIM), raising £10.7 million and valuing the company at £34.1 million.[7]
Royal Bank of Scotland began offering FreeAgent to its business banking customers in 2017 and acquired the company for approximately £53 million in 2018.[8]
In 2021, co-founder Roan Lavery succeeded Molyneux as chief executive.[9] FreeAgent remained part of NatWest Group and became increasingly integrated with its business banking services. It had approximately 225,000 customers in 2025, up from 200,000 a year earlier.[10]
In July 2021, co-founder Roan Lavery succeeded Ed Molyneux as chief executive.[11] FreeAgent subsequently became increasingly integrated with NatWest Group's business banking services, including NatWest's digital bank Mettle. It had approximately 225,000 customers in 2025, up from 200,000 a year earlier.[12]
Software and services
[edit]FreeAgent provides cloud-based accounting software for small businesses, sole traders, landlords and accountants. It combines day-to-day bookkeeping with invoicing, expense tracking, bank feeds, payroll and financial reporting, and can be used to submit tax information to HM Revenue and Customs.[13]
The software also supports the UK's Making Tax Digital system, including digital record keeping and submissions for VAT and Income Tax.[14]
See also
[edit]References
[edit]- ↑ Rawlinson, Nik (26 January 2024). "FreeAgent review: Fully featured yet easy-to-use cloud accounting platform". IT Pro. Retrieved 7 September 2026.
- ↑ Turvill, William (16 November 2016). "From crowdfunding to IPO in 16 months: Edinburgh tech company claims UK first with Aim flotation". City A.M. Retrieved 7 September 2026.
- ↑ Stokdyk, John (27 March 2018). "RBS reels in FreeAgent for £53m". AccountingWEB. Retrieved 7 September 2026.
- ↑ Annual Report and Accounts 2025 (PDF) (Report). NatWest Group. 2026. Retrieved 7 September 2026.
- ↑ Rao, Leena (3 May 2012). "FreeAgent Acquires Financial Software Startup 60mo; Lands Investment From Lightbank". TechCrunch. Retrieved 7 September 2026.
- ↑ Gibbs, Samuel (16 November 2013). "Growth of 3,000%? Meet Britain's top tech startups". The Guardian. Retrieved 7 September 2026.
- ↑ Turvill, William (16 November 2016). "From crowdfunding to IPO in 16 months: Edinburgh tech company claims UK first with Aim flotation". City A.M. Retrieved 7 September 2026.
- ↑ Stokdyk, John (27 March 2018). "RBS reels in FreeAgent for £53m". AccountingWEB. Retrieved 7 September 2026.
- ↑ Murden, Terry (21 June 2021). "Molyneux steps down as CEO at software firm FreeAgent". Daily Business. Retrieved 7 September 2026.
- ↑ Annual Report and Accounts 2025 (PDF) (Report). NatWest Group. 2026. Retrieved 7 September 2026.
- ↑ Murden, Terry (21 June 2021). "Molyneux steps down as CEO at software firm FreeAgent". Daily Business. Retrieved 7 September 2026.
- ↑ Annual Report and Accounts 2025 (PDF) (Report). NatWest Group. 2026. Retrieved 7 September 2026.
- ↑ Rawlinson, Nik (26 January 2024). "FreeAgent review: Fully featured yet easy-to-use cloud accounting platform". IT Pro. Retrieved 7 September 2026.
- ↑ "Making Tax Digital: are you ready for HMRC's self-assessment shake-up?". The Guardian. 21 February 2026. Retrieved 7 September 2026.
