MYOB will partner with Australian startup Kounta to create an integrated online accounting and point-of-sale service for MYOB customers.
In addition, MYOB has invested capital for a minority stake in Kounta. The exact terms of the deal were not disclosed.
Kounta, which was featured in the Techworld Australia startup snapshot series, makes cash register software for retailers that supports mobile online payments and runs on any device. Customers include Sonoma Baking Co, Gelato Messina, Mecca and Luxe.
The partnership means customers of MYOB’s accounting software Essentials and AccountRight can also use Kounta for running their stores.
Kounta CEO Nick Cloete said his startup’s software will continue to entertain partnerships beyond MYOB in the future.
“Kounta remains committed to an open platform and will continue to design and develop intuitive point of sale solutions, with the ability to extend functionality through integration partnerships with all other leading online and mobile services like accounting, payments, loyalty, inventory, e-commerce platforms and more,” he said.
MYOB's general manager of connected services, Andrew Birch, said the investment is a strategic move to solidify MYOB’s position in the retail POS, mobile payments and e-commerce space.
“The MYOB-Kounta partnership is integral to our vision of making cloud accounting easy for every business. The partnership also reinforces MYOB’s continued commitment to servicing the Australian and New Zealand SME market,” Birch said.Australian businesses invest $3.19 billion in software Q1 2014: ABS
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