£1.25m invested in Cheshire software company to double headcount
The Northern Powerhouse Investment Fund (NPIF) has invested £1.25m to support My Digital Accounts in its mission to strengthen its headcount and boost its marketing activity.
Founded in 2015 in Wilmslow, the software company of cloud-based accounting and pay roll software to accountants with clients in retail, leisure, IT and construction.
The company currently has a subsidiary in India, managing its international operations.
The funding will support the company’s mission to double its headcount and the development of a North-West focused IT apprenticeship hub.
The investment will also be used to scale up the company’s marketing activity, to promote My Digital Accounts’ product offering in line with the MTD campaign.
“This investment from will help My Digital Accounts scale its marketing activities to raise awareness of its product offering, particularly to support companies in HMRC’s widely-publicised Making Tax Digital (MTD) initiative which affects all companies with turnover in excess of £85,000,” said John Whelan, Founder of My Digital Accounts.
“Over the last four years, My Digital Accounts has driven an ambition of developing HMRC compliant software, specifically focused on easing the burden of complex tax legislation on temporary workers, and those who look after them, in the UK.
Having already set up a subsidiary in India, My Digital Accounts is looking at further expansion overseas.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.