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iplicit

“Can a UK mid-market cloud ERP become the end-to-end money-movement surface (AR + AP) that replaces both the accounting app and the online banking portal?”

Founded2013
HQUnited Kingdom
Total raised£25M
Latest roundPE Growth (One Peak), January 2025
IndustryHorizontal SaaS / Accounting
The story

iplicit was founded in 2013 as a cloud ERP/accounting platform purpose-built for UK mid-market firms outgrowing Sage/QuickBooks/Xero. After bootstrapping to 2,000+ customers and reported 113% YoY growth in 2024, it took its first institutional funding (£25M from One Peak, Jan 2025). The embedded-finance angle is a 2025 shift: moving beyond pure bookkeeping into payment execution — Instant Bank Pay for AR via GoCardless, and iplicitPay for AP via open banking — turning the ERP into the system of record AND the payment surface.

Last 12 months
2025-01
2025-03
Product timeline
2013
iplicit founded as a UK cloud accounting software vendor for mid-market firms outgrowing entry-level tools.· pivot
2019
Begins collecting its own subscription payments via GoCardless.· banking
2025
Raises £25M PE Growth round from One Peak — first external institutional funding.· ipo
2025
Launches GoCardless partnership bringing Instant Bank Pay to iplicit customers.· banking
2025
Launches iplicitPay — embedded AP/supplier payments via FCA-regulated open banking rails.· banking
The stack
4 layers disclosed in iplicit’s embedded-finance stack
Payments / PSP
GoCardless
Payroll
in the full report
Open banking
in the full report
Accounts Receivable
in the full report
Accounting gap: none
4 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

iplicit — frequently asked

Who is iplicit's payment processor?

iplicit processes payments through GoCardless.

Which open banking provider does iplicit use?

iplicit connects to bank accounts through GoCardless and Crezco.

Which payroll provider does iplicit use?

iplicit's payroll is powered by BrightPay.

What is iplicit's embedded finance stack?

The Embedded Finance Index 2026 maps 4 layers in iplicit's stack: Payments / PSP (GoCardless); Payroll (BrightPay); Open banking (GoCardless and Crezco); Accounts Receivable (GoCardless).

Where is iplicit headquartered?

iplicit is founded in 2013 and headquartered in United Kingdom.

How much funding has iplicit raised?

iplicit has raised £25M in total (latest round: PE Growth (One Peak), January 2025).

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