How to Choose an Accountant For Fintech Companies

How to Choose an Accountant For Fintech Companies

The buzzword around fintech is “innovation”. Nearly every fintech company on the planet appears to offer something new. And where they don’t, they tend to position themselves as a “disruptor,” a business that wants to change their industry from the inside out. Challenger banks are good examples of companies that can be innovators or disruptors.

Whether it’s a new payment platform or a fresh take on cryptocurrency exchange, there’s money in fintech, and this has spawned a new era of investors. It also means the accounting requirements for fintech companies can be complex.

If you intend to grow your company and fuel your growth in an efficient way, you will need an accountant to at least provide advice on tax and financial planning. Whether you want to entrust them with your entire accounting is up to you.

Fast growth (look for experience and track record)

Here at Sterling Finance, we have helped fintech start-ups and scale-ups fuel their operation. Our role can be traditional (VAT returns, statutory accounts and corporation tax) or involved, helping your company scale and grow.

Our experience of fast-growing businesses means we are ideally placed to understand and keep up with your growing accounting requirements.

Business efficiency (look for software and automation)

We use cloud accounting software to manage accounts. We can setup a system that seamlessly connects to your bank feeds. We can also setup a system that automates your payments and monitors billing and transactions for you.

As a fintech company, you will appreciate innovation and we believe that software is the future of efficient accounting, especially at scale.

Advisory services (look for metrics, data and insight)  

The great thing about our accountancy firm is we can go beyond traditional accounting services. You will undoubtedly have a team of talented people around you, but the fact that we do your accounts means we are in arguably the best position to provide valuable advice around finance, growth and cashflow forecasting.

Our data and use of industry-leading software means we can analyse your financial situation, measuring metrics like customer acquisition costs, loan to value, recurring income and cash burn. This will help you run a more profitable company.

Overall

Your fintech company will have a 5 year plan. If that plan involves growing exponentially, our accountants are up to the task of helping you achieve it. Give us a call to chat with our experts about your accountancy requirements.

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