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Source: ONE News -
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Accounting software company Xero says it now has 10,000 paying customers, up from around 1,000 in March last year.
Ahead of its annual meeting on Thursday afternoon, Xero said that the tenfold increase was a significant milestone for the company just two years after its initial public offering.
Almost half of the company's customers live outside New Zealand.
In May, the company announced a reseller agreement with British Telecom giving BT's 1.7 small business customers access to Xero's online service via business applications portal.
Xero is also available in Australian on Telstra's T-suite platform.
The company says it is well positioned to continue its investment in growth after successfully raising nearly $30 million earlier this year.
Key investors include Craig Winkler, a founder and former major shareholder of Australian based accounting software company MYOB, and Trade Me founder Sam Morgan who is an independent director of Xero.
