Santander Group has acquired Albert, the invoicing and expenses app for freelancers and micro-businesses, for an undisclosed sum. The banking group said the purchase will allow it to further support UK small business owners in managing and growing their businesses.
Albert is a bookkeeping app designed specifically for freelancers and the self-employed, helping them to keep control of their finances by automating and simplifying invoices, expensing and reporting while on the go. It is the UK’s highest rated finance app for the solo self-employed over 3,200 5-star reviews on the Apple app store.
Ivo Weevers, co-founder and CEO, said:
“Over the past three years, Albert has quickly become the UK’s top-rated finance app for freelancers and the self-employed. With the self-employment sector growing rapidly, now is a perfect time to capitalise on the support and expertise provided by the Santander Group.”
Lindsey Argalas, Santander Group’s chief digital and innovation officer, adds:
“Albert has a clear vision for how they can use technology to transform the experience of running a business. It is our shared belief that small businesses owners should have access to the tools that help them work smarter, and that deliver the same instant, seamless and personal experiences in finance, as they get in their daily lives. With Albert as part of the Santander team, we are a step closer to ensuring that more small businesses in the UK are able to prosper.”
As part of the deal, Santander has acquired taken over Albert’s team and technology. The group said customers will benefit from access to a wider range of innovative products and services being developed to support the self-employed and micro businesses.
The app will continue to operate business as usual and there will be no disruption to the service.