Belgian accounting startup Horus Software doubled its number of users in 2022


Belgian accounting startup Horus Software doubled its number of users in 2022

The company rounded the 8,000-user mark in 2022. The previous year, the finalist of the prestigious Deloitte Tech Fast 50 experienced revenue growth of 75%.

Horus Software, the Belgian startup that has developed an accounting software and app based on Artificial Intelligence, has rounded the 8,000-user mark at the end of 2022. That immediately doubles the number of users compared to 2021. The finalist of the prestigious Deloitte Tech Fast 50 award experienced revenue growth of 75% last year.

2022 was the year of fruition for the Liège-based startup. Horus developed two products for the Belgian market: Horus Office, an accounting software for accountants and fiduciaries, and Falco, a financial app launched in 2021 for entrepreneurs and business leaders. The company owes its growth partly to the firm confidence of its customers in its Office solution, and partly to the growth of the Falco app.

8,000 users

While the startup counted about 4,000 users in 2021, today more than 8,000 people are already using Falco or Horus Office. If current growth is maintained, the company expects to round the 10,000-user mark by March 2023. The Falco app for entrepreneurs accounts for 80% of users.

7 million minutes won

Thanks to the AI in the software and app, accounting processes can be automated. For instance, the system automatically analyses an invoice and also enters them correctly into the bookkeeping system automatically. In 2022, Horus’ AI scanned no less than 7 million invoices. That amounts to 7 million minutes, 116,000 hours or almost 15,000 working days won.

Increased financial projections

In 2022, Horus generated turnover of €2 million, up 75% year-on-year. For now, that revenue is split evenly between Horus Office and Falco. In the future, the company expects to generate more revenue from its Falco app. Thanks to the strong year, the startup is raising its financial projections for 2023. Horus expects to double its revenue in the coming year and jump over the €4 million mark.

Benjamin Tailleur, COO at Horus Software clarifies, “Our goal for 2022 was to stabilise our customer base and products. First and foremost, we wanted to have the best accounting solutions in Belgium. This growth is a nice recognition of our hard work. On the one hand, we are gaining the trust of accountants and fiduciaries, on the other, more and more entrepreneurs are using Falco to keep their records in real time.”

Deloitte Tech Fast 50

As icing on the cake, the startup achieved 15th place (out of 50) in the prestigious Deloitte Tech Fast 50 award. The young company showed 1220% growth over the past 3 years. Thus, Horus finished as the second Walloon company out of a total of 5 nominated companies from the south of the country.

Jérôme Tailleur, sales director at Horus Software says: “What is striking is that only 10% of the nominees are from Wallonia. We are proud to have been able to put Walloon entrepreneurship on the map. Hopefully this can inspire other entrepreneurs from the region.”

New focus on Flanders

The Liège-based startup does not want to rest on its laurels in the coming year either. While Horus recruited 4 new profiles in 2022, the company is aiming to triple its recruitment in 2023, or 12 new employees. This will mainly involve IT profiles and commercial staff. Already firmly established in Wallonia and Brussels, the company now wants to launch new initiatives in Flanders. “All paths are open,” Benjamin concludes.

About Horus Software

Founded in 2018, Horus Software is a Belgian startup that is revolutionising IT accounting. The fast-growing startup has developed two solutions for the Belgian and Luxembourg market: Horus Office, an accounting software for fiduciaries and accountants, and Falco, a financial application for entrepreneurs and business managers.

Based on Artificial Intelligence and behavioural analysis, its software allows to follow the accounting in real time. This saves up to 40% of time for accountants and fiduciaries. Thanks to AI, Horus has saved more than 7 million minutes, or more than 15,000 working days.

Horus is managed by Philippe Tailleur (CEO) and his two sons, Benjamin and Jérôme Tailleur (COO and Sales Director) and currently has a staff of 15 and a recurring turnover of 2 million euros.

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