“It is an honour and a privilege to work with Lord Young – his investment of time, money and invaluable advice has put us firmly in place as leaders in the market,” said Duane Jackson, founder of KashFlow, which has cornered 70% of the online accounting software market in a remarkably short time.
In a phenomenal success story, KashFlow has increased its revenue by 400% in the past few years, from £200,000 to well over a million.
The company and its software has won numerous awards, and Jackson himself was named Young Entrepreneur of the Year and one of Esquire Magazine’s Most Impressive Businessmen aged 30 or Under in 2008.
Jackson said Lord Young was particularly interested in innovative technology, and that was one of the reasons he had been keen to invest in KashFlow – one of the first cloud software packages to be developed in Britain.
The young entrepreneur first connected with Lord Young through the Princes’ Trust and London Youth Support Trust, charity organisations that assisted Jackson – who grew up in a children’s home – with starting his first business.
“Since his initial investment in 2006 Lord Young has helped me grow KashFlow from just an idea into a useful product used by more than 10,000 small businesses.”
David, Lord Young of Graffham, has an impressive track record in business and politics. Most recently he was executive chairman of Cable & Wireless, before setting up his own company, Young Associates, which actively invests in technology companies. In the political sphere he was formerly Trade Secretary in Margaret Thatcher’s government.
He also authored a book called “The Enterprise Years” in 1990.