Intuit buys London fintech Sequence in reported $200m deal
The a16z-backed billing and revenue startup, co-founded by Riya Grover and Eamon Jubbawy, is acquired by the US software giant.
Deal struck with US giant
Sequence, a London and New York-based fintech that uses AI to automate billing, payments and revenue management for startups, has been acquired by US software company Intuit. The deal is estimated to be worth around $200m, according to the Times.
Founded in 2021, Sequence counts startups including Legora and Cognition among its customers. The acquisition is reported to be one of the largest exits by a UK AI startup with a female co-founder.
Founders with form
Sequence was co-founded by Riya Grover, who previously worked at Deutsche Bank before becoming chief executive and co-founder of food tech startup Feedr, which was acquired by Compass in a $24m deal in 2020. Her co-founder is Eamon Jubbawy, who previously co-founded identity verification firm Onfido, sold for $650m in 2024. Jubbawy is also founder and chief executive of climate startup Isometric.
According to the Times, Grover holds more than a 45 per cent stake in Sequence, while Jubbawy holds more than 15 per cent.
Grover described the deal as a “huge milestone”, saying that joining Intuit would allow Sequence to operate at a bigger scale.
Backers cash in
Sequence has raised around $40m in total funding since its founding. Its investor base includes US venture capital firm Andreessen Horowitz, alongside Passion Capital, firstminute capital and 645 Ventures.
The acquisition marks another exit for a16z-backed UK fintech talent and adds to a growing list of British AI startups being bought by larger US technology players. For Intuit, the deal brings AI-driven billing and revenue management capability into its product suite, expanding its reach into the startup customer base that Sequence has built up since 2021.
What it means for UK tech
The sale is a notable outcome for London’s fintech and AI scene, underscoring the continued appetite among large US acquirers for British-founded software companies with enterprise customers. It also highlights the track record of serial founders in the UK ecosystem: both Grover and Jubbawy have now been through successful exits before, with Jubbawy’s Onfido sale and Grover’s Feedr deal preceding this latest transaction.
For investors such as Andreessen Horowitz and early UK backers Passion Capital and firstminute capital, the deal offers a return on a company that had raised a comparatively modest $40m before being bought for roughly five times that sum.
What to watch next
Attention will now turn to how Intuit integrates Sequence’s billing and revenue technology into its existing product lines, and whether the London and New York teams are retained. The deal is also likely to be watched closely as a data point on exit valuations for UK AI startups, and on whether Grover and Jubbawy, both now multiple-exit founders, move on to new ventures.