{"id":41268,"date":"2020-08-25T13:07:32","date_gmt":"2020-08-25T13:07:32","guid":{"rendered":"http:\/\/icloud.pe\/blog\/?guid=a777c5d296652f64898fd3ba1f0ac334"},"modified":"2020-08-25T13:07:32","modified_gmt":"2020-08-25T13:07:32","slug":"xero-to-acquire-cloud-invoicing-specialist-waddle","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/xero-to-acquire-cloud-invoicing-specialist-waddle\/","title":{"rendered":"Xero to acquire cloud invoicing specialist Waddle"},"content":{"rendered":"<p><span class=\"field field-name-field-author field-type-node-reference field-label-hidden\"><br \/>\n      <span class=\"field-item even\"><a href=\"https:\/\/www.cloudpro.co.uk\/authors\/sabina-weston\">Sabina Weston<\/a><\/span><br \/>\n  <\/span><\/p>\n<div class=\"field field-name-field-published-date field-type-datetime field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\"><span class=\"date-display-single\">25 Aug, 2020<\/span><\/div>\n<\/p><\/div>\n<\/div>\n<p class=\"short-teaser\">\n<a href=\"https:\/\/www.cloudpro.co.uk\/\" title=\"\" class=\"combined-link\"><\/a><\/p>\n<div class=\"field field-name-body\">\n<p dir=\"ltr\">Cloud-based accounting software firm\u00a0<a href=\"https:\/\/www.cloudpro.co.uk\/finance\/accounting\/7986\/xero-review-xero-to-almost-hero\" >Xero<\/a>\u00a0has acquired Waddle, a lending platform which specialises helping small businesses gain access to capital.\u00a0<\/p>\n<p dir=\"ltr\"><span>The transaction, valued at AU$ 80 million (around \u00a344 million) is expected to be completed before the end of the year and is subject to satisfaction of closing conditions. According to Xero, the transaction, integration, and operating costs are expected to have minimal impact on the company\u2019s FY21 EBITDA.<\/span><\/p>\n<p dir=\"ltr\"><span>Xero CEO Steve Vamos described the Waddle acquisition as \u201can important step\u201d in the company\u2019s \u201cstrategy to help small businesses better manage cash flow and gain access to working capital\u201d.\u00a0<\/span><\/p>\n<p dir=\"ltr\"><span>He added: \u201cWaddle\u2019s lending platform has the potential to enable a wide range of banks, fintechs and other lenders to better support small business financial needs. We\u2019re excited about the benefits Waddle can bring to many of our customers and banking partners.\u201d\u00a0<\/span><\/p>\n<p dir=\"ltr\"><span>Founded in Australia in 2014, Waddle\u2019s lending platform service automates the manual processes involved in invoice financing, making it easier for banks and fintechs to lend to small businesses.<\/span><\/p>\n<p dir=\"ltr\"><span>Although headquartered in Sydney, Waddle &#8211; which has been a Xero ecosystem partner since 2016 &#8211; currently also serves customers in the UK. Following the acquisition, it is expected to continue to offer services to customers and partners, including other accounting software providers.<\/span><\/p>\n<p dir=\"ltr\">The announcement comes two years after Xero acquired document management and collection software Hubdoc for \u00a353 million. Following the acquisition, it was also announced that Hubdoc\u2019s co-founder and CEO Jamie McDonald joined Xero\u2019s leadership team as executive general manager of product, accounting, and global services. It is unclear whether Waddle co-founders and directors Simon Creighton and Nathan Andrews will hold any new positions within the company.<\/p>\n<p dir=\"ltr\">Xero offers <a href=\"https:\/\/www.cloudpro.co.uk\/finance\/accounting\/7986\/xero-review-xero-to-almost-hero\" >three tiers of SaaS accounting suites<\/a> targeting businesses of various sizes: Xero Starter for \u00a310 per month, Xero Standard for \u00a322 per month, and Xero Premium for \u00a327.50 per month. Unlike <a href=\"https:\/\/www.cloudpro.co.uk\/accounting\/4540\/best-uk-mobile-accounting-apps-thatll-make-you-ditch-spreadsheets-for-your-ipad-1\" >some of its rivals<\/a>, all three tiers support online VAT submission to HMRC and also offer new subscriber discounts.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>      Sabina Weston<\/p>\n<p>        25 Aug, 2020    <\/p>\n<p>      Cloud-based accounting software firm\u00a0Xero\u00a0has acquired Waddle, a lending platform which specialises helping small businesses gain access to capital.\u00a0<br \/>\nThe transaction, valued at AU$ 80 million (&#8230;<\/p>\n","protected":false},"author":627,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-41268","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/627"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=41268"}],"version-history":[{"count":2,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41268\/revisions"}],"predecessor-version":[{"id":41275,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41268\/revisions\/41275"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=41268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=41268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=41268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}