Xendoo is an up-and-coming digital accounting & bookkeeping provider
Companies of all sizes need bookkeeping and accounting services. And it’s an ideal service to consume digitally. When I started reporting on the space in the mid-90s, I thought banks would end up delivering the bulk of basic accounting functions through their online banking programs.
But so far I’ve been proven wrong. There is too much nuance, too many gray areas, too much liability and too much competition for traditional banks to make a material profit. So the market has been ceded to the entrepreneurs, and wow, have they shown up!
It’s been a popular startup category in the 2015 to 2020 era with 17 of the top 25 companies founded in that 6-year period. Surprisingly, we have only one since then: Lettuce Financial.
Year founded:
2010 or earlier: 5
2011 to 2015: 5
2016 to 2019: 12
2020: 2
2021 or later: 1
Resources: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: Small Business (SMB) savings/treasury accounts (7) | SMB online lenders (33) | SMB challenger banks (15) | SMB insurers (15) | SMB credit cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | SMB digital accounting/bookkeeping (21)
The FAB Score (Fintech Attention Barometer) is a proxy for the size and growth of fintech companies founded since 1999.
| Rank | Was (July’24) | Company | FAB Score* | Reviewed | Founded | HQ | Funding ($M)** | Visits (Nov’25) |
| 1 | 1 | Xero | 6,791 | 10 Dec 2025 | 2006 | Wellington, NZ | 1606 | 31,200,000 |
| Ad | Ad | 1800Accountants | NA | 10 Dec 2025 | 1999 | NYC | 170,000 | |
| 2 | 2 | Freshbooks | 638 | 10 Dec 2025 | 2003 | Toronto | 457 | 2,700,000 |
| 3 | 3 | HighRadius | 145 | 10 Dec 2025 | 2006 | Houston | 475 | 430,000 |
| 4 | 9 | Finally (was BackOffice) | 133 | 10 Dec 2025 | 2018 | Miami | 309 | 52,000 |
| 5 | NEW | Lettuce Financial | 113 | 10 Dec 2025 | 2023 | 57.9 | 380,000 | |
| 6 | 4 | Bonsai | 101 | 10 Dec 2025 | 2016 | SF | 0.1 | 390,000 |
| 7 | 7 | Collective | 89 | 10 Dec 2025 | 2020 | SF | 149.7 | 97,000 |
| 8 | 14 | Emburse (ChromeRiver) | 83 | 10 Dec 2025 | 2014 | LA | 0.1 | 420,000 |
| 9 | 5 | Patriot | 62 | 10 Dec 2025 | 2002 | Canton, OH | 4.4 | 370,000 |
| 10 | 8 | Autobooks | 59 | 10 Dec 2025 | 2015 | Detroit | 153 | 88,000 |
| 11 | 12 | Pilot | 50 | 10 Dec 2025 | 2016 | SF | 172 | 120,000 |
| 12 | 10 | TaxBit | 48 | 10 Dec 2025 | 2018 | Draper, Utah | 253 | 16,000 |
| 13 | 6 | Bench | 45 | 10 Dec 2025 | 2012 | Vancouver BC | 109 | 160,000 |
| 14 | 15 | Zeni | 26 | 10 Dec 2025 | 2019 | SF | 47.5 | 78,000 |
| 15 | 11 | Synder | 20 | 10 Dec 2025 | 2016 | SF | 3 | 91,000 |
| 16 | 16 | Proper | 15 | 10 Dec 2025 | 2017 | SF | 32.8 | 6,100 |
| 17 | 17t | Docyt | 11 | 10 Dec 2025 | 2016 | SF | 25 | 13,000 |
| 18 | 19 | Fincent | 10 | 10 Dec 2025 | 2020 | SF | 0 | 24,000 |
| 19 | 17t | Bookkeep | 6 | 10 Dec 2025 | 2018 | NYC | 9.9 | 7,200 |
| 20(t) | 13 | OneUp | 5 | 10 Dec 2025 | 2017 | SF | 2 | 15,000 |
| 20(t) | 21 | Xendoo | 5 | 10 Dec 2025 | 2016 | Miami | 8.5 | 16,000 |
| 22 | 22 | Avise | 3 | 10 Dec 2025 | 2017 | NYC | 5.5 | 1,700 |
| 23(t) | 23t | FinancePal | 1 | 10 Dec 2025 | 2015 | Chicago | 0 | 2,500 |
| 23(t) | 23t | Reconciled | 1 | 10 Dec 2025 | 2015 | Burlington, VT | 1 | 3,500 |
| 25 | 23t | Ceterus | -2 | 10 Dec 2025 | 2008 | Charleston, SC | 33.6 | 3,300 |
Source: FintechLabs, 12 Dec 2025 using data from Crunchbase, Similarweb
*As nerds do, we are developing a proprietary score measuring the adoption of digital financial services at private companies that do not release traditional metrics (# customers, deposits, AUM, etc). We call it the FAB score, standing for Fintech Attention Barometer. The score uses money raised, valuation, employees and website traffic as a proxy for company size and velocity of growth. It’s a work in progress, so expect changes down the road.
**Funding is the amount invested into the company as either equity or debt.
***Affiliate partner. Fintech Labs earns money by referring new customers to SMB financial providers. Referral payments may influence where companies are shown.
