--- title: "Intuit Acquires London Fintech Sequence in Reported $200M Deal" url: "https://bizztor.com/news/intuit-acquires-london-fintech-sequence-200m-deal/" author: "Bizztor" author_url: "https://bizztor.com/author/bizztor/" date_published: "2026-10-16T08:00:00.000Z" date_modified: "2026-10-18T19:01:32.043Z" category: "News" description: "The AI billing startup, co-founded by Riya Grover and Onfido's Eamon Jubbawy, joins Intuit's mid-market team. The Times puts the price at about $200m." publisher: "Bizztor" --- # Intuit Acquires London Fintech Sequence in Reported $200M Deal > The AI billing startup, co-founded by Riya Grover and Onfido's Eamon Jubbawy, joins Intuit's mid-market team. The Times puts the price at about $200m. **Intuit, the US company behind QuickBooks and TurboTax, has agreed to buy Sequence, a London and New York fintech that uses AI to automate billing and revenue management, in a deal The Times values at about $200 million.** Intuit announced the acquisition on Thursday 15 October but did not disclose the price. Sequence was founded in 2021 by chief executive Riya Grover and Eamon Jubbawy, the co-founder of identity verification company Onfido. It has raised about $40 million from investors including Andreessen Horowitz, 645 Ventures, Passion Capital and firstminute capital. [Tech.eu reported](https://tech.eu/2026/10/16/a16z-backed-uk-fintech-sequence-sold-to-intuit-in-reported-200m-deal/) that the sale is one of the largest exits yet for a UK AI startup with a female co-founder. Citing The Times, it said Grover holds more than 45% of the company and Jubbawy more than 15%. ## What does Sequence do? Sequence automates what finance teams call quote-to-revenue: turning the terms of a signed deal into prices, bills, invoices, payment collection and revenue recognition. Its AI agents handle the daily tasks that finance staff would otherwise do in spreadsheets. The software is built for companies that charge by usage, seats or milestones rather than a flat fee. That pricing has become common among AI companies, and Sequence's customers include legal AI startup Legora and Cognition, the company behind the coding agent Devin. When Sequence raised its $20 million Series A in December 2025, [FinTech Futures reported](https://www.fintechfutures.com/venture-capital-funding/sequence-raises-20m-in-series-a) that it had 100 customers, had grown recurring revenue tenfold in a year, and was automating more than $1 billion in annual invoice volume. "Revenue management has long been the most fragmented workflow in the back office," said Grover. "As businesses adopt usage-based and hybrid pricing, that complexity is only growing." ## Why is Intuit buying Sequence? To win bigger customers. Intuit is pushing beyond small businesses into the mid-market with Intuit Enterprise Suite, which it describes as an AI-native enterprise resource planning (ERP) system, and QuickBooks Online Advanced. "As businesses grow, pricing, billing, and collecting on complex usage-based and milestone-based revenue becomes one of the biggest reasons they choose an ERP," said Ashley Still, executive vice president and general manager of Intuit's Small Business and Mid-Market Group, in the [deal announcement](https://finviz.com/news/403101/intuit-to-acquire-ai-native-revenue-management-platform-sequence). Intuit says Sequence will help it sell to new industries, starting with B2B software and professional services firms, which often have complicated contracts and pricing. The mid-market is already Intuit's fastest-growing area. On its earnings call on 25 August, Intuit said mid-market revenue grew 39% in fiscal 2026 and mid-market customers grew 28%, [CFO Dive reported](https://www.cfodive.com/news/intuit-deal-signals-bet-ai-demand-revenue-management/833166/). Chief executive Sasan Goodarzi put the size of the mid-market opportunity at nearly $90 billion. Wyatt Jenkins, senior vice president of product for Intuit's Mid-Market Group, said businesses of this size treat revenue management and recognition as "critical factors when choosing an ERP." Intuit shares rose about 4% on the day of the announcement, according to Seeking Alpha. ## What happens to Sequence and its customers? Sequence's team, including Grover, will join Intuit's Mid-Market product organisation. Intuit says it will keep supporting Sequence's existing customers after the deal closes and plans to build an integrated product "in the coming months". Neither company has said when the deal will complete. Grover described the sale as a "huge milestone" that would let Sequence operate at a bigger scale, Tech.eu reported. ## Who are the founders behind Sequence? Both are second-time founders with exits behind them. Grover, who previously worked at Deutsche Bank, founded office food startup Feedr, which Compass Group bought in 2020. Jubbawy co-founded Onfido, which was sold in 2024 for a reported $650 million, and also runs climate startup Isometric. He was Sequence's chair when it launched. That track record helped Sequence raise early. In September 2022, it announced a [$19 million seed round led by Andreessen Horowitz](https://techcrunch.com/2022/09/19/sequence-orders-up-19m-led-by-a16z-for-a-new-approach-to-b2b-fintech), with Salesforce Ventures, firstminute capital and Passion Capital also investing. Founders of Plaid, Intercom, GoCardless and Monzo joined as angels. Its Series A followed in December 2025, led by New York firm 645 Ventures, bringing total funding to about $40 million. ## What does this mean for UK founders? It shows that a big US buyer will pay well for a focused UK product that fixes one painful job. On The Times' reported price, Sequence sold for roughly five times the capital it raised, less than a year after its Series A. It also shows where buyers see value in AI. Sequence did not build a model. It built the billing system that AI companies need once they start charging by usage, and a company that runs the accounts of millions of small firms wanted it. UK fintech remains one of the country's biggest startup sectors. Fintech startups raised €2.5 billion across 85 equity and grant rounds between January and mid-October 2026, third behind AI and healthtech, according to [Bizztor's analysis of 2026 UK funding](https://bizztor.com/news/uk-cities-sectors-most-startup-funding-2026/). Our [UK fintech funding tracker](https://bizztor.com/uk-funding-data/fintech/) lists every round. Other UK startups are working on the same back-office problem for smaller firms. [Adfin raised an $18 million Series A](https://bizztor.com/news/adfin-raises-18m-series-a-to-build-agentic-finance-platform-for-uk-smes/) to build agentic finance tools for UK SMEs. For founders, the lesson is the one Grover and Jubbawy already knew from their first companies. A narrow product, sold to a clear buyer, can find a strategic acquirer long before it reaches unicorn scale. _Bizztor covers UK startup funding and exits every week. Follow_[_Bizztor on LinkedIn_](https://www.linkedin.com/company/bizztorcom/)_for the latest deals._ --- Source: https://bizztor.com/news/intuit-acquires-london-fintech-sequence-200m-deal/