Hammock
“Can the AISP-powered accounting layer for UK landlords become the default rails for HMRC Making Tax Digital?”
Founded2019
HQManchester, United Kingdom
FoundersManoj Varsani
Total raised£1M+ (seed disclosed)
Latest roundSeed, 2020
IndustryVertical SaaS / Real Estate
The story
Founded 2019 by former CTO Manoj Varsani as a landlord-first current account and property finance manager, initially launching with a Prepaid Mastercard current account via Prepaid Financial Services (PFS). Since then Hammock has pivoted toward accounting/bookkeeping SaaS for UK landlords, letting agents and accountants — becoming the first HMRC-recognised MTD (Making Tax Digital) landlord platform. Embedded finance is now limited to Open Banking AIS aggregation (via TrueLayer) rather than the original BaaS/card product, with referral relationships to third-party insurance and mortgage providers.
Product timeline
2019
Hammock Financial Services Ltd incorporated (Companies House 11787213); incubated within Founders Factory Studio.· founding
2020
Raised £1M seed led by Fuel Ventures and Ascension Ventures; launched current account for landlords.· banking
2021
Selected for REACH UK proptech program.· milestone
2026
Announced integrated MTD for Income Tax solution with Intuit QuickBooks.· product_launch
Regulated entities
1
regulatory licence held by Hammock
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Hammock’s embedded-finance stack
Banking / BaaS
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
Accounting
in the full report
Accounting gap: minor
6 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.