State of Fintech 2025: Everything You Need to Know - Rex & Simon Talk Fintech SPECIAL

[@tompuijpeNL]

I think accounting software is super underrepresented in FinTech categories.

[@CambrianHQ]

Not quite. There have been a lot of accounting startups in the last 10 years. But nothing has worked well. there isn’t a Stripe / Nubank sized company in the accounting space. So it feels like it’s underrepresented, but not for lack of trying. Now, with AI, LLMs it is different. Accounting is going to be more automated which means it is possible to build successful accounting startups.

[@tompuijpeNL]

Not entirely sure. Some international names that come to mind: - Intuit $180B - Oracle $480B - SAP $265B Seems like there are a lot of local players doing well while (if you look up some national accounting software company stats) internationalisation might be more challenging due to regulations. What do you think might be holding this category back?

[@tompuijpeNL]

Timely topic now with Bench bankruptcy and Kick taking customers over with #selfdrivingbookkeeping

[@Nightman-eb8mj]

Isn't Freshbooks something like that? Regardless, I don't believe that AI will completely wipe out the accounting profession, because although AI can automate certain, or most type of repeated processes AI cannot take accountability. Meaning, at the end of the day if something goes wrong you need to blame someone and that someone has to be a person. :D Accounting at advanced levels will have the similar destiny as law. You want a real human lawyer representing you, not an AI in the courtroom.

[@tompuijpeNL]

Yes. Also an international player. FreshBooks raised $80m series E in 2021 with $1B+ valuation.