Mayday secures £3.9m seed round to automate month-end accounting

Automating the intercompany and core accounting workflows for businesses using Xero and QuickBooks has secured Mayday Holdings Limited an estimated £3.9m in seed funding. Based in London, the company provides a software suite designed for finance teams managing multiple entities or high transaction volumes.

The platform addresses manual month-end tasks through several core products. Balancer identifies discrepancies in intercompany loan accounts and AR/AP balances, while Recharger automates intercompany recharges and posts journals directly to accounting software. The company also offers BRAG for group-level bank reconciliation and HQ for centralized visibility of chart of accounts and tracking categories. Mayday reports that its tools can reduce the time spent on these specific workflows by 98 percent.

This £3.9m round is the largest capital injection for the company to date. Previous funding includes a £443k seed round in October 2023, a £165k round in April 2023, and two separate £85k investments in late 2022.

Incorporated in 2020, Mayday is led by a team that has grown from nine employees at the end of 2024 to 38 staff members according to current LinkedIn data. The company serves over 300 customers and focuses on bridging the gap between bookkeeping and reporting tools to reduce spreadsheet reliance.

In April, the company appointed Edmund Charles Lorenz Wilson to its board of directors. This coincided with the allotment of the new funding (April), with formal documentation filed in May.