Hnry Ltd

Executive Summary

Hnry Ltd offers an all-in-one tax automation service for independent workers. The company charges a 1 percent fee on total earnings before taxes, with a maximum yearly cost of 1,500 New Zealand dollars. The business has reached a yearly income level of 30 million dollars but also showed a 5 million dollar loss because it is spending heavily to gain new customers in New Zealand and Australia. Supported by big-name investment firms like Square Peg Capital and Airtree Ventures, the company uses its own custom software to manage all local tax rules instead of just basic record keeping. Hnry competes against established giants like Xero. Its main advantage is that it takes away the entire paperwork load for the rising number of freelance workers. Growing the business in the future depends on managing difficult tax rules in different countries. This process could raise the cost of doing business as it spreads across the world. This upcoming public stock offering serves as a major sign that the freelance world is moving toward specialized services.