Kick

Kick

Financial management for small businesses and creators

About Kick

Simplify's Rating
Why Kick is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Company Size

11-50

Company Stage

Seed

Total Funding

$9M

Headquarters

Palo Alto, California

Founded

2021

Overview

Kick.co helps small business owners, freelancers, and creators manage their finances more effectively. It offers a range of services that simplify bookkeeping, maximize tax deductions, and provide cash back opportunities. Users connect their debit or credit cards to the platform, which automatically categorizes their business income and expenses, saving them significant time and reducing audit risks. Kick.co operates on a subscription model, providing both automated and human-assisted support, ensuring users receive personalized financial advice. This approach allows users to save an average of $15,452 per year through tax deductions and cash back. Unlike traditional banks, Kick.co partners with Blue Ridge Bank N.A. to offer banking services, focusing on community-driven financial advice and support.

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Simplify's Take

What believers are saying

  • Kick can capture Bench's 12,000 customers after its abrupt shutdown in December 2024.
  • The $9 million seed funding boosts Kick's platform enhancement and scaling efforts.
  • AI-driven financial services position Kick well in the growing fintech market.

What critics are saying

  • Increased competition from established fintech companies like QuickBooks and Xero.
  • Potential regulatory scrutiny could lead to higher compliance costs for Kick.
  • Reliance on Blue Ridge Bank N.A. poses risks if the partnership faces challenges.

What makes Kick unique

  • Kick offers a unique social banking platform for crowdsourcing tax deductions.
  • The company provides automated bookkeeping with AI-driven expert financial advice.
  • Kick partners with Blue Ridge Bank N.A. for FDIC-insured banking services.

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Funding

Total Funding

$9M

Above

Industry Average

Funded Over

1 Rounds

Notable Investors:
Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$9M
Kick

Benefits

Paid Vacation

Company Equity

Company News

PYMNTS
Dec 30th, 2024
Online Bookkeeping Platform Bench Accounting Announces ‘Abrupt’ Shutdown

Canada-based online bookkeeping and tax filing platform Bench Accounting shut down its services and operations as of Friday (Dec. 27).“We regret to inform you that we have shut down Bench services,” the company said in a notice of service closure on its website. “As of December 27, 2024, the Bench platform is no longer accessible.”Bench’s bookkeeping services and tax advisory platform had more than 12,000 small business customers, according to a press release issued by Bench in September.When announcing a Series B-1 funding round in 2018, the company said it aimed to help small business owners and accountants build and grow their companies.In its Friday notice, Bench said customers will receive information about how to access their Bench records by Monday (Dec. 30) and that it recommends that customers contact modern accounting software provider Kick for support with their bookkeeping.“We know this news is abrupt and may cause disruption to our customers, so we’re committed to helping them navigate through the transition,” Bench said in the notice.The notice included a link to a Kick web page that described services to help customers migrate from Bench to Kick, including free Bench migration, daily live Q&As and a free 2024 bookkeeping review. With the code “BENCH,” customers can get 20% off the Kick Plus Plan and free Bench migration.Kick founder Conrad Wadowski wrote in a Friday post on LinkedIn that Kick is moving fast to offer these services so that Bench customers don’t have to start from scratch and so that Kick can “get your financials back in your hands.”“You may have just heard Bench has abruptly closed down,” Wadowski wrote in the post. “If you’re a customer, I can’t imagine the frustration you’re going through

US Connections Inc.
Dec 27th, 2024
Bench shuts down, leaving thousands of businesses without access to accounting and tax docs

The notice recommends customers migrate to Kick, a new accounting startup that announced its $9 million seed raise in October 2024 in a round led by OpenAI and General Catalyst.

MamStartup
Oct 28th, 2024
9 mln USD na „automatyzację nudnych rzeczy” w księgowoś...

Założony przez Conrada Wadowskiego startup zebrał 9 mln dolarów w rundzie seed. Pieniądze na automatyzację księgowości wyłożył OpenAI, General Catalyst oraz ponad 50 aniołów biznesu.

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