Online accounting service Hnry has secured a NZD$16 million investment, led by US growth equity firm, Left Lane Capital,
to scale in both New Zealand and overseas markets.
Hnry, the world’s first online pay-as-you-go accountancy service for the self-employed, has achieved unprecedented
growth in the last 18 months, becoming one of NZ's largest accountancies, and will use the funds to supercharge growth
both locally and overseas.
James Fuller, CEO and co-founder of Hnry, says the company’s revenues were 500% what they were in June 2020, and the new
capital will see their team double to 80 across New Zealand and Australia in the next few months.
“Completing the raise is a great testament to the hard work of the Hnry team, and provides us with a fantastic platform
to help more and more Kiwis get the opportunity to earn income independently without excessive stress, hassle or cost,”
says James Fuller, CEO.
The capital raise was led by the US growth equity firm Left Lane Capital, alongside existing investors, EVP, Icehouse
Ventures and Angel HQ. Fuller says Left Lane Capital were attracted to Hnry’s rapid growth rate, world-class levels of
customer satisfaction and exciting future growth potential.
“Hnry already serves tens of thousands of customers in New Zealand and 40 percent of our new clients come via referrals
from existing customers who already love the service. This investment will help us to continue to support the more than
400,000 New Zealanders who earn some or all of their income independently.”
Vinny Pujji, Left Lane Capital Co-Founder and Managing Partner, says Hnry is an excellent investment.
“When you go off on your own – whether as a marketer, yoga instructor or house painter – you don’t expect you’ll also
have to become a full-time accountant. Hnry’s platform works seamlessly on behalf of sole traders who want to focus on
what they’re best at without the stress of tax planning. It’s truly an honour to work with such a passionate and
effective team. I’m excited to see Hnry evolve from an accounting platform to an everything platform that supports solo
business owners through payments, insurance, taxes and more.”
Left Lane Capital is a leading New York-based global growth-equity firm investing in high-growth internet and consumer
technology companies. Left Lane's mission is to partner with extraordinary entrepreneurs creating category-defining
businesses fundamental to the human condition and spirit. Previous investments include GoStudent, Masterworks, M1
Finance, Tovala, FightCamp, Wayflyer, and Tapcart. Hnry is Left Lane’s first ever investment in the Australasian market.
Fuller says the addition of Vinny Pujji and Left Lane is a significant addition for Hnry.
“Vinny’s market experience and Left Lane’s aligned portfolio are a valuable addition to our team, and it is exciting to
have investors of this calibre coming on the Hnry journey.
Approximately 15% of New Zealanders earn some or all of their income independently, contributing an estimated $30B in
earnings to the economy. Independent earners include freelancers, contractors, consultants, sole traders and the self
employed.About Hnry
Founded in 2017, Hnry is an all-in-one digital accounting service that takes care of all the financial admin for
contractors, freelancers, sole traders and the self-employed - allowing them to focus on getting the job done, rather
than worrying about tax and compliance. Hnry provides a pay-as-you-go service, handling invoicing, expenses, payments,
taxes and filings.
Hnry were a finalist for 'Hi-Tech Service of the Year' at the 2019 New Zealand Hi-Tech Awards, won 'Emerging Service of
the Year' at the 2019 Wellington Gold Awards and won 'Supporting Gold' at the 2020 Wellington Gold Awards.