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 with 16 of the top 21 companies founded since 2012.

Years since founding:
10 to 20 years >>> 4 startups
5 to 9 years >>> 9 startups
1 to 4 years >>> 8 startups

Startup of the Month

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NEW: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: SMB online lenders (33) | SMB challenger banks (12) | SMB insurers (15) | SMB charge cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | Subscription processors (7) | SMB digital accounting/bookkeeping (21) | Equity crowdfunding (7)

The FAB Score Ranking (Fintech Attention Barometer) is a proxy for the size of a private fintech company.

Rank Was (Jan ’22) Company FAB Score* Review Founded HQ Funding ($M)** Web Visits (Sep ’22)
Aff* Xendoo 8 15 Nov ’22 2016 Miami 7.4 27,000
Aff* Bonsai 101 15 Nov ’22 2016 SF 0.1 500,000
1 1 Xero 5,248 15 Nov ’22 2006 Wellington, NZ 681 25,800,000
2 2 Freshbooks 987 15 Nov ’22 2003 Toronto 331 4,300,000
3 3 HighRadius 240 15 Nov ’22 2006 Houston 475 370,000
4 4 Patriot 168 15 Nov ’22 2002 Canton, OH 4.4 900,000
5 6 Bench 140 15 Nov ’22 2012 Vancouver BC 109 530,000
6 5 TaxBit 109 15 Nov ’22 2018 Draper, Utah 236 130,000
7 7 Bonsai 101 15 Nov ’22 2016 SF 0.1 500,000
8 8 Pilot 92 15 Nov ’22 2016 SF 161 160,000
9 10 Autobooks 54 15 Nov ’22 2015 Detroit 97.8 64,000
10 12 Zeni 33 15 Nov ’22 2019 SF 47.5 30,000
11 14 Emburse (ChromeRiver) 16 15 Nov ’22 2014 LA 0.1 87,000
12 13 Proper 10 15 Nov ’22 2017 SF 13.8 13,000
13 15 Bookkeep 9 15 Nov ’22 2018 NYC 9.9 5,300
14 (t) 17 Xendoo 8 15 Nov ’22 2016 Miami 7.4 27,000
14 (t) 20 Docyt 8 15 Nov ’22 2016 SF 13 2,000
16 (t) 16 Pallo 7 15 Nov ’22 2020 LA 0 11,000
16 (t) 11 Vinyl Metrics 7 15 Nov ’22 2021 SF 0 6,000
16 (t) 9 OneUp 7 15 Nov ’22 2017 SF 2 24,000
19 (t) 18 Avise 3 15 Nov ’22 2017 NYC 5.5 200
19 (t) 19 Snyder 3 15 Nov ’22 2016 SF 3 0
21 (t) 21 FinancePal 1 15 Nov ’22 2015 Chicago 0 2,700
22 (t) 22 Reconciled 1 15 Nov ’22 2015 Burlington, VT 1 200
23 (t) 23 Ceterus 1 15 Nov ’22 2008 Charleston, SC 33.6 7,900

Source: FintechLabs, 15 Nov 2022 using data from Crunchbase, SimilarWeb, SEMrush

*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 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.