# Xero

> Xero is a cloud-based accounting software company founded in Wellington, New Zealand in 2006. It serves more than 4.4 million subscribers - mostly small businesses and the accountants and bookkeepers who advise them - across New Zealand, Australia, the UK, the US and beyond. Xero connects bank feeds, invoicing, payroll, expense tracking and a marketplace of thousands of third-party apps into a single real-time platform, and reported NZ$2.1 billion in revenue in FY25.

- **Founded:** 2006
- **Headquarters:** Wellington, New Zealand
- **Founders:** Rod Drury (Co-founder & former CEO), Hamish Edwards (Co-founder)
- **Team size:** ~4,400 employees
- **Products:** Xero Accounting, Xero Payroll, Xero Projects & Expenses, Xero App Store, Xero Payments / Bank Feeds
- **Notable:** Grew from under 100 customers at its 2007 IPO to more than 4.4 million subscribers., Reached NZ$2.1 billion revenue in FY25 with 23% growth., Delivered a Rule of 40 result of 44.3% in FY25.

## Products & services

- **Xero Accounting** — Cloud accounting platform with automated bank reconciliation, invoicing, bills, and real-time financial reporting.
- **Xero Payroll** — Payroll processing and compliance tools integrated with the accounting ledger.
- **Xero Projects & Expenses** — Project tracking, time recording, and expense claims with receipt capture.
- **Xero App Store** — Marketplace of thousands of third-party apps connecting to the Xero open API ecosystem.
- **Xero Payments / Bank Feeds** — Embedded payments, multi-currency support, and automated bank feeds from financial institutions.
- **Xero Analytics** — Cash flow forecasting and business insights, increasingly augmented with AI assistant 'Just Ask Xero' (JAX).

## Achievements

- Grew from under 100 customers at its 2007 IPO to more than 4.4 million subscribers.
- Reached NZ$2.1 billion revenue in FY25 with 23% growth.
- Delivered a Rule of 40 result of 44.3% in FY25.
- Free cash flow of NZ$506.7m (US$297m) in FY25, up 48%.
- Built one of the largest open small-business app ecosystems in the world.
- Rod Drury was knighted for services to business and the technology industry.

## Latest updates

- **2025-05** — Reported FY25 results: revenue up 23% to NZ$2.1B, ARPU up 15% to NZ$45.08, Rule of 40 at 44.3%.
- **2026-05** — CEO Sukhinder Singh Cassidy publicly apologised after a multi-day platform outage affected customers in NZ, Australia and the UK.
- **2023-02** — Sukhinder Singh Cassidy formally became CEO, succeeding Steve Vamos.

## Links

- Website: https://www.xero.com
- LinkedIn: https://www.linkedin.com/company/xero
- Twitter/X: https://twitter.com/xero
- GitHub: https://github.com/XeroAPI
- YouTube: https://www.youtube.com/user/XeroOnline
- Instagram: https://www.instagram.com/xero
- Facebook: https://www.facebook.com/xero

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Profile page: https://yespress.io/xero
Published by YesPress — https://yespress.io
Last updated: 2026-06-01