Banking platform Coconut has teamed up with PrePay Solutions (PPS) to deliver an app-based account that manages tax and expenses for freelancers and self-employed workers.
Coconut launched its smart business current account earlier this month and is now working with PPS to deliver its full banking infrastructure and technology.
Ray Brash, CEO of PrePay Solutions, said: “It is exciting to be working with a company as innovative as Coconut.
“As with any partnership, the chemistry has to be right and the Coconut team is perfectly aligned with our company vision and ambition.
“Freelancers, sole traders and small businesses are the backbone of our economy, but they are completely underserved when it comes to fit-for-purpose digital banking and account tools.
“Working together with Coconut, we're offering a completely new type of product to a growing and underserved group, helping them to benefit from personalised accounts that truly meet their business needs both now and in the future.”
Sam O'Connor, CEO at Coconut (pictured above, left), added: “We're really pleased to be working with the PPS team – they have created the best banking infrastructure product in the UK and are bringing some of the most innovative financial products to market.
“We've worked together to deliver our product in record time with our beta launch this January.
“PPS is a crucial long-term partner for us.”
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