NZ Fintech Hnry Launches In UK, Targeting 4 Million Sole Traders

New Zealand, 5 February 2025 - Four million UK sole traders are in Hnry’s sights as it launches in the UK, opens a waitlist for its world-first tax automation service and begins onboarding clients throughout 2025.

The Wellington-based fintech’s expansion into the UK comes five years after the groundbreaking service launched in Australia in 2020. Its combined Australasian market has grown by 58% over the last two years, supercharged by Hnry’s $35 million Series B raise in January 2023.

Manasé Mtopa will head Hnry UK. Mtopa, an experienced chartered management accountant, has extensive experience leading large-scale digital transformation projects at Experian and Lloyd’s Banking Group. He has also worked as a sole trader and is uniquely placed to understand the tax needs of UK sole traders.

Hnry’s UK launch aligns with the government’s Making Tax Digital initiative, which requires self-employed individuals earning over £50,000 (approx $109,000 NZD) to maintain digital tax records and file tax returns using compatible software from April 2026. People earning above £30,000 (approx $65,000 NZD) will do the same from April 2027. Unlike other services currently available to UK-based sole traders, Hnry provides software to run their business, a dedicated bank account and debit card for business funds, and acts as an accountant - paying and filing taxes. Their service is available on a pay-as-you-go basis, with an annual fee cap.

Advertisement - scroll to continue reading

“Hnry is uniquely positioned to support UK sole traders navigating the new digital tax requirements. People choose to work for themselves for many reasons, but we’ve found that managing their taxes isn’t one of them. Given the digital transformation happening with tax, we have a perfectly timed opportunity to relieve tax anxiety for millions of sole traders,” says Mtopa.

Manasé Mtopa and Hnry’s senior leadership team have spent almost two years preparing the infrastructure for Hnry’s launch in the UK. CEO James Fuller describes the fintech's potential as significant.

“The UK market is twice the size of the Australian and New Zealand markets combined - so this expansion marks a pivotal milestone for Hnry and our growth trajectory. Every week, we’re fielding questions from people - mostly ex-pats - who want to know when we’re launching in the UK, so demand is already there. Word of mouth has been a key driver of our growth in Australia and New Zealand; when you consider more than 135,000 Australians and Kiwis live in the UK, we’re optimistic about a strong start,” says Fuller.

While Hnry has a successful playbook to work from following its Australian launch in 2020, Fuller says the UK’s tax landscape presents its own challenges.

“While there are similarities between all of our markets, there are important differences - for example, in the UK, they handle their version of GST - VAT - differently to how Australia and NZ do. This is why we’ve taken the time to build robust infrastructure and engage with regulators and our banking partners.

“Our priority is delivering the same seamless experience to UK-based sole traders that’s already transformed the lives of thousands of customers across Australasia,” says Fuller.

Manasé Mtopa joins Hnry’s senior leadership team alongside Karan Anand (Managing Director, Australia) and co-founders Claire and James Fuller. To join the UK waitlist, users will need to download the Hnry app.

About Hnry:

Founded in 2017, Hnry is one of New Zealand’s largest accountancy firms. It provides a pay-as-you-go all-in-one digital accounting service handling invoicing, expenses, payments, taxes, filings, and expert on-demand support. Hnry takes care of all the financial admin for contractors, freelancers, sole traders, and the self-employed, allowing them to focus on getting the job done rather than worrying about tax and compliance. Hnry recently won the ‘Innovation in Financial Services’ category at the 2024 INFINZ Awards. In 2023 and 2024, as well as being one of the leading companies in the Deloitte Fast 50, it was also recognised as the Fastest Growing Technology Business in the Wellington and Lower North Island region.

© Scoop Media