Flow Account

Flow Account provides a cloud-based accounting solution specifically tailored for the complexities of the Thai market, targeting small and medium-sized enterprises (SMEs), solo entrepreneurs, and freelancers. The company was co-founded by Kridsada Chutinaton, who serves as CEO, and Varit 'Vicki' Tothuck as CTO. The inspiration for Flow Account stemmed from the founders' own frustrations as small business owners dealing with cumbersome, traditional accounting software not designed for non-accountants. They experienced firsthand the inefficiency of needing to return to the office to issue a simple quotation, which drove them to build a more accessible solution.

The platform is designed to be user-friendly, enabling business owners without extensive accounting knowledge to manage their finances. Core functionalities include creating quotations, billing notes, invoices, and receipts. The system also handles inventory management, financial reporting, transaction tracking, and payroll. To cater to the modern, mobile business owner, Flow Account is accessible via both web and mobile applications, allowing users to manage their business from anywhere. Revenue is generated through a freemium model, offering basic functions for free with premium plans available for more advanced features. The company also offers paid add-on services such as integrations with e-commerce platforms like Shopee and Lazada, and an Open API for workflow automation.

Since its beta launch in January 2015, the company has seen significant user adoption, reaching over 130,000 active users. A key milestone was securing a pre-Series A funding round of US$1.15 million in 2017, led by Beacon VC (Kasikornbank's venture capital arm), with participation from SBI Investment, Golden Gate Ventures, and 500 Tuk Tuks. This strategic investment from Kasikornbank provided access to a large pool of potential SME customers. Flow Account has also attracted backing from prominent international investors like Sequoia Capital India and Money Forward. The company leverages Amazon Web Services (AWS) to ensure its platform is scalable and affordable for its customer base. By localizing for the specific accounting workflows of Thailand, Flow Account has established a strong position in its home market.

Keywords: cloud accounting, Thai SMEs, financial software, invoicing, payroll, inventory management, fintech, SaaS, business automation, e-commerce integration