A world-first accounting service, removing the tax burden for self-employed workers

The story of Hnry
Founded in 2017, by James and Claire Fuller, Hnry is a mission-critical, all-in-one financial solution for sole traders, integrating payments, accounting tools, and professional accountancy. 

The solution
Hnry now operates in New Zealand, Australia, and the United Kingdom (as of April 2025). By providing a unique account for every user, online tools, as well as professional support, to make self-employment simple, affordable and accessible for anyone.

The company had achieved significant scale, processing annualised payments of over $3 billion, facilitating nearly 0.5% of New Zealand's GDP, and serving almost 60k users.

The investment case
Hnry were demonstrating impressive momentum, particularly in Australia, where their expansion had been a standout success.

Proving it could replicate its New Zealand offering in international markets. The company had also proven highly efficient customer acquisition metrics, and had grown efficiently with low burn and improving EBITDA margins.

This embodied the key characteristics of a Movac growth investment: strong, capital-efficient growth at scale, a vast and largely untapped market opportunity, and proven go-to-market execution driven by top-tier co-founders and a capable executive team.

After maintaining a close relationship with the team for multiple years, Movac was first-placed to lead the company's $30 million Series C raise through Growth Fund 6, with the company choosing not to run a formal process. We believe this is further evidence of our position as a prominent venture capital firm in NZ.

The capital from this round was used to accelerate growth in the core business, particularly in the Australian market, and the recently launched UK market.