Collective Raises $20 Million To Not Be An "Accounting Firm"
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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Show Notes
02:15 – $58,508: The Average Starting Salary for New Accounting Grads
3:44 – Fintech Startup Offers $500 for Payroll Passwords
6:07 – Railz Raises $12 Million 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 Blog
15: 51 – Blake’s discussion on Collective with CAP listener, Michael Eckstein
17:29 – The Collective Disclaimer
20:45 – 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 results
32:25 – Digital bank Relay raises $19.4 million to automate financial management for small business
37:55 – Sage's profits fall 30%, but accounting software boosts organic revenues | This is Money
39:50 – Introducing the Subscription Economy Income Statement
42:52 – WeWork CEO Says Least Engaged Employees Enjoy Working from Home
45:07 – 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/
https://www.bostonglobe.com/2021/05/09/opinion/hybrid-workplace-probably-wont-last/
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