Translucent, a London-based accounting platform for multi-entity and multi-national businesses, raised £5M in Seed funding. The round was co-led by Chalfen Ventures and LocalGlobe. Translucent is also backed by angel investors, including Craig Walker and Gary Turner, co-founders of Xero, as well as founders from other fintech and accounting-tech companies.
The company will use the funds to develop further apps, including Intercompany Transactions, BI & Analytics, and Financial Close. Translucent was founded by CEO Michael Wood. The platform allows businesses to unify their financial data and workflows by offering a suite of apps on top of existing accounting software such as Xero, QuickBooks, and Sage. Translucent is being used by businesses around the world, from software companies to restaurant groups to property developers.
The company was founded in 2022.
The company's mission is to make it easier for multi-entity businesses to manage their finances.
The company's platform is available in English and Spanish.
