Angel
Farmers & accountants
2013
Xero ecosystem integration
Agri‑fintech
Two farmers/accountants in New Zealand co-founded Figured in 2013; backed by MyFarm, the startup built farm financial management tools with strong integration with cloud accounting platforms.
Early customers were NZ farmers and advisers who used Figured to track finances, production, forecasting, and collaborate via Xero and other partners in real-time.
Startup Rollercoaster
The Spark
Carl McDonald and David Marshall (both farmers and accountants) founded Figured in 2013 to address the lack of financial management tools specific to farming.
They built Figured to integrate with Xero accounting software and provide real-time financial insights for farms and advisers.
The Peak
Figured grew to service over 35,000 farms globally across six countries, and works with more than 500 accounting firms.
They formed partnerships with Xero, QuickBooks Online, and rural banks, extending their reach beyond New Zealand to Australia, the UK, and the U.S.
The Drop
Adoption among conservative farming communities was gradual, particularly where cloud software and real-time data practices were not yet standard.
Handling different commodity types such as dairy, cropping, and livestock, and providing forecasting and production tracking added product complexity.
The Reset
Figured deepened its partnerships with accounting firms and banks, including investment from BNZ, to better tailor its service and distribution.
They expanded integrations with MYOB, Agworld, and stock tracking tools, and improved collaboration features for advisers and farmers to work on shared financial and operational data.
The Discipline
The company focused on customer success, ensuring budgeting, forecasting, production tracking, and reporting features were reliable.
They maintained agriculture as the core domain rather than pivoting to general accounting, and invested in integrations to ensure seamless data flow from farms to advisers to banks.
The Climb
Today, Figured supports farming teams in New Zealand, Australia, the UK, the United States and other countries, with more than 35,000 farms using the product.
They continue to enhance functionality, align with agricultural lenders, and integrate deeper with established accounting and financial platforms to provide scale and stability.
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