ACCOUNTANCY software business FreeAgent is hoping to raise £1m through crowdfunding platform Seedrs to expand its services.

Edinburgh based FreeAgent, which employs 70 people, specialises in products for businesses with fewer than 10 staff and freelancers.

It now has around 40,000 customers working across 100 countries. The firm said it is currently looking to add around 10 people to its workforce.

The crowdfunding campaign will offer a 3.21 per cent of the equity in the business with stakes starting from £10.

Ed Molyneux, chief executive and co-founder of FreeAgent, said: "Accounting has long been an unglamorous, under-served backwater of the software industry. But we believe that by focusing specifically on the needs of micro-businesses, we've been able to completely reinvent this category."