Curve, the London fintech start-up that facilitates online payments by uniting all user’s bank cards into one single contactless Mastercard, has collaborated with Xero, New Zealand enterprise for cloud-based accounting software development, to simplify the tiresome process of doing expenses.
The Xero feature allows to link the Curve app with Xero cloud in order to exclude the necessity to enter each expense manually every time a user performs a transaction. The new function will fully automate the exhausting process and remove any friction related to business expenses. The Xero integration is mostly oriented at small business owners, freelancers and contractors.
Arthur Leung, product lead at Curve, announced:
“Everyone hates doing their expenses. It’s a tedious, manual job that takes up too much time. But it doesn’t have to be that way. Now, Curve will do the job for you, regardless of the bank you use. Instead of wasting one day a month on business expenses admin, just connect your cards to a Xero account through the Curve app, and Curve will do your expenses for you. It’s effortless.”
Earlier in July the Curve company raised $10 million in the first significant stage of venture capital investment, which followed the presentation of the company’s financial “time-travel” feature allowing users to reverse their payments if they were send to the wrong account.
Curve currently counts up to 75,000 sign-ups to its app and claims that its users have already spent more than $93.6 million in 100 world countries. In addition to that, Curve’s new partner Xero itself has over a million subscribers, who are very likely to do justice for the promising fintech start-up.
Edward Berks, director of financial web and ecosystem at Xero, stated:
“Our new partnership with Curve makes managing your business spending even easier, freeing up time that can be spent on growing your business instead. And since it reduces manual data entry, reconciliation and human error as a result, our accounting and bookkeeping community will benefit too.”
The new feature is mostly targeted to save both businesses and accountants time which is normally spent on routine manual data entry and contribute at least $9.6 billion more to the UK economy.