Xero, a New Zealand-based software company that develops cloud-based accounting software for small and medium-sized businesses, announced they’ve surpassed 250,000 subscribers in Britain.
Cloud software firm Xero has notched up 250,000 customers in Britain, where it faces competition from local incumbent Sage Software and United States rival Intuit.
It is the fourth major milestone for Xero this year after it topped 250,000 subscribers in New Zealand, 500,000 in Australia and a million customers worldwide.
Analysts’ eyes are increasing focused on its progress in Britain which is a large and increasingly contested market.
The company announced in March their licensing has surpassed 1 million subscribers. Expanding into North America has proven problematic where Intuit has a well-established foothold with their QuickBooks franchise. The company is also looking to book its first net profit which some analysts are forecasting for 2019.