Accounting software provider MYOB has picked up a minority stake in cloud-based Point of Sale (POS) start-up Kounta, with the two companies set to launch an integrated online solution.
The partnership comes at a time when MYOB is steadily beefing up its arsenal to keep rivals like Xero and Intuit in check. Sydney-based Kounta’s POS solutions are already integrated with a number of players in the market, including PayPal, Tyro and Collect Rewards.
Nick Cloete, founder and CEO of Kounta, said the partnership will provide MYOB clients with an easy-to-use, efficient online platform that combines accounting with their POS. “The growth of Kounta as a start-up has been based on our flexible, scaleable, affordable, cloud-based software,” Mr Cloete said.
“Over the past few years, Kounta has worked hard to re-imagine the way all different types and sizes of stores manage both online and offline transactions and it’s great to see such established and innovative companies like MYOB validating, investing in and supporting this new approach.”
The terms of MYOB picking up the stake in Klout have not been disclosed.
The article first appeared in Business Tech Insider