Point-of-sale start-up Kounta has secured investment from accounting software giant MYOB in a partnership that will see an integrated accounting and point-of-service offering for MYOB clients.
The partnership is interesting given that the founder of MYOB competitor Reckon, Greg Wilkinson, was one of their original investors.
Kounta founder Nick Cloete says they could have raised money elsewhere, but were approached by MYOB and settled on them because of the opportunity to co-brand a product for the MYOB client-base.
Cloete says the investment will not affect integration with any other platforms, and it will be business as usual for current Kounta customers.
“The appeal for us was the opportunity to tap into the MYOB client base and create a product specifically for them,” he says. “Effectively, it’s a white label co-branded product that will be MYOB specific.”
The Sydney based startup has proved popular with retailers offering the flexibility of both online and offline access across multiple platforms – iPads, Android tablets, Mac OS, Windows, and the existing POS equipment retailers already have.
The partnership with MYOB will make it easier and more efficient for small and medium businesses that use MYOB software to also run their stores.
The solution will integrate with MYOB’s popular cloud accounting solutions MYOB Essentials and MYOB AccountRight.
Cloete says that Kounta remains committed to an open platform and will continue to design and develop intuitive Point of Sale solutions.
“We’ll continue to extend functionality through integration partnerships with all other leading online and mobile services like accounting, payments, loyalty, inventory, e-commerce platforms and more,” Cloete says.
MYOB general manager, connected services, Andrew Birch says the investment is a key strategic move that will solidify the accounting software provider’s position in the retail POS, mobile payments and e-commerce space.