Cynco: Raising $125K to Take on Xero & QuickBooks?

Hazli Johar, Co-Founder and CEO, Cynco

03-Apr-25 10:00

Cynco: Raising $125K to Take on Xero & QuickBooks?

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Manual bookkeeping and accounting is tedious, error-prone, and outdated, but can automation & AI fix it? In this episode of Open For Business, we speak with Hazli Johar, Co-Founder and CEO of Cynco, an AI-powered bookkeeping platform built specifically for startups and SMEs.

Hazli breaks down how Cynco wants to differ from industry giants like QuickBooks and Xero by focusing on business owners, not accountants. We explore the platform’s automation features, from document processing to categorization using narrow AI models, along with its SaaS pricing model, user feedback, and traction since soft launching in late 2024.

We also dive into Cynco’s product-market fit journey, its current $125,000 pre-seed raise, and growth targets of 1,000 users and $70,000 revenue by end-2025. Hazli explains why they believe their lean, focused approach can outmaneuver slower incumbents, and what it’ll take to keep scaling sustainably.

Is Cynco truly building the future of accounting, or is this just another fintech longshot in a crowded market? Tune in to find out.

Produced by: Roshan Kanesan, Carol Wong

Presented by: Roshan Kanesan

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Categories: entrepreneurs, SME, technology, markets

Tags: SaaS startups, accounting, fintech, automation, software, ai,

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