Ember funding news – Embedded Accounting Startup Ember Secures £5million in Funding

Though it still has a ways to go, the firm has partnered with HSBC to provide hundreds of thousands of its SME clients a range of digital tax services by integrating accounting and tax tools within the bank's platform.

Read also - Tensor Ventures becomes the first VC Fund supported by the Czech Republic’s National Recovery Plan

It is intended to make financial management easier for SMEs in the United Kingdom. With the embedded offering—which Ember intends to sell to other banks—HSBC's SME clients will be able to watch cash flow, integrate invoicing, and assign categories to transactions.

In light of the government's Making Tax Digital project, which aims to establish a fully digital tax system throughout the UK, HSBC anticipates that the services will assist its clients in becoming digital with their taxes.

Investors in N26 Valar Ventures, fintech company Viola Fintech, and European fintech company Shapers lead the investment.

Hogan said: "It will impact around 1.75m business owners in the UK. As of 2026, those business owners will have to file additional tax returns through the year, rather than just a single tax return at year-end. So what we are doing here is trying to help HSBC and their customers prepare for Making Tax Digital.”

About Ember

Founded in 2018 by software engineer Aaron Shaw and former Deloitte executive Dan Hogan, Ember aims to challenge industry titans like Sage and QuickBooks and revolutionise the accounting industry.

They facilitate company owners' operations. By removing the need for an outdated, expensive accountant and giving control back to the people in charge, we can automate tax and accounting processes and make running a business easier, more intelligent, and far less expensive.