Coconut Fintech Unveils Innovative Accounting Solution, Aims to Secure RBS Fund Approval

Meet Coconut’s New All‑In‑One App: Your Business’s Personal Genie

Today marks a watershed moment for Coconut, the fintech sidekick of current accounts and bookkeeping. With the Making Tax Digital crackdown rolling out, they’re rolling out a fully mobile, end‑to‑end accounting service that’s the first of its kind in the UK. The app will handle everything from bank movements to filing tax returns with HMRC and Companies House. No more juggling spreadsheets or chasing receipts.

The One‑Stop Solution

Instant Cash Flow: Watch every transaction pop up in real time, so you never guess where the money is.
Smart Guidance: The app nudges you on how to trim expenses and keep your finances tidy.
On‑Demand Accountants: Chat live with a growing roster of partner accountants ready to give you advice right inside the app.
Zero Hassle Filings: Slip on your tax returns and let the app file them for you—without the headache.

Why This is a Game Changer Now

• 52% of self‑employed and small businesses want a single tool that covers the whole digital tax journey.
• 64% feel HMRC hasn’t given them enough notice or tools for Making Tax Digital.
• 35% are skeptical that cloud accounting alone can handle the new requirements.

“We’re Turning Chaos Into Cohesion” – Sam O’Connor (CEO & Co‑Founder)

Sam says, “We’re moving people out of the fragmented maze of apps into a smooth, real‑time platform.” His vision is simple: one product that does everything a small business needs, ditching the clunky collection of cloud tools and receipt apps that scatter your life.

The Real‑World Numbers

• £100/month gives the combined current account plus accounting expertise—cheaper and smarter than any bank or cloud round‑up.
• Coconut smashed its crowdfunding target four‑times over, backed by a loyal community.
• €200,000 awarded by Nesta’s Open Up Challenge for open‑banking innovation.
• Application for Pool D of the RBS Remedy Fund—£25 m could help reach hundreds of thousands of UK small businesses.

What’s Next? Expanding the Toolset & Generating Cash

With the funding pipeline moving up, Coconut plans to add richer features that let businesses manage finances with ease—everything from invoicing to cash flow forecasting, all wrapped up in one sleek interface.

Our Commitment to the Community

“We’ve finally seen the tech fund flow back to innovators like us—people that keep small businesses alive,” Sam added. The prize will help them scale up, bring intelligent automation, and nurture accountability from the ground up.