ANNA Money

About ANNA Money

ANNA Money, short for 'Absolutely No Nonsense Admin', provides a digital business account and tax administration platform for small and medium-sized enterprises, sole traders, and freelancers in the United Kingdom. The company was founded in 2017 by Boris Dyakonov and Eduard Panteleev, who brought their extensive experience from creating successful banking ventures in other countries, including Bank24.ru and Tochka in Russia. They identified a need in the UK market for better-integrated financial services for entrepreneurs.

The company's journey began with its official registration in April 2016, followed by a development phase in 2017. After launching a beta version in April 2018, ANNA Money had its full rollout in September 2018. Significant milestones include a partnership with TrueLayer for open banking services in April 2019 and a successful equity crowdfunding campaign on Seedrs in October 2019. In June 2022, the founders took full ownership of the business, severing ties with previous investors. In January 2024, ANNA Money acquired Cape, a business credit card fintech, which has since been absorbed into the ANNA brand and facilitated its expansion into Australia.

ANNA Money operates on a subscription-based business model, offering tiered pricing plans including a free 'Pay as you go' option, a 'Business' plan, and a 'Big Business' plan, with revenue generated from monthly fees and transaction commissions. The platform provides clients with a UK business account, sort code, and a Mastercard debit card. While not a bank itself, ANNA is regulated by the Financial Conduct Authority (FCA) to provide electronic money services. Its core offering combines financial management tools into a single mobile application with a chat-based interface. Key features include invoicing software that creates and chases payments, a receipt scanner for expense management, and tax services that provide estimations and reminders to help businesses stay compliant with HMRC. The platform also supports integrations with accounting software like Xero. A distinctive feature is its debit card, which is known for making a 'miaow' sound on contactless payment.