Chennai based online accounting startup - ReachAccountant has raised first round of funding from Rajan Anandan, MD-Google India and Rehan Yar Khan of Indian Angels Network. Post funding, Rajan Anandan will join the board of Reachaccountant.com.
Reach Accountant was founded in 2005 by Robin Moses. Reachaccountant provides web based accounting application for startups and small businesses. It claims to helps small businesses save more than 80% on the cost of accounting and reduces their bookkeeping time by over 50%.
The firm claims to be different from Tally as Reachaccountant imports transactions from bank current accounts and categorises them automatically.
ReachAccountant has also raised seed funding from Morpheus.