Overview
Xero is a cloud accounting platform founded on July 6, 2006 in Wellington, New Zealand (originally as “Accounting 2.0”) by Rod Drury (knighted January 2026) and Hamish Edwards. The company serves 4+ million subscribers in 180+ countries and recently announced a $2.5 billion acquisition of Melio (June 2025).
Highlights
- Founding story: Wellington origins, “Accounting 2.0” original name, Rod Drury’s vision
- Cloud-native architecture: Single unified ledger, automatic bank feeds from 200+ institutions
- Open API philosophy: API central to company DNA since founding
- App ecosystem: 1,000+ app integrations in Xero App Store, Stripe, PayPal, Square, Gusto
- Major acquisitions: Hubdoc (2018), TaxCycle ($75M CAD, 2021), Melio ($2.5B, 2025)
- Company culture: Pioneer in diversity and mental health advocacy in tech
- Global presence: Offices in Australia, UK, US, Canada, Singapore
- Use cases: Small business accounting, invoicing, bank reconciliation, payroll, inventory
Founded
July 6, 2006 in Wellington, New Zealand. Founded by Rod Drury (knighted January 2026) and Hamish Edwards.
Headquarters
Wellington, New Zealand.
Ownership and funding
Public. Multiple acquisitions including Hubdoc (2018), TaxCycle ($75M CAD, 2021), Melio ($2.5B, June 2025).
Core technology
Cloud-native single unified ledger. Automatic bank feeds from 200+ institutions. Open API central to company DNA.
Market position
Small businesses and accountants; 4M+ subscribers in 180+ countries.
Product philosophy
“Making accounting accessible and user-friendly”.
Key integrations
1,000+ apps in Xero App Store; Stripe, PayPal, Square, Gusto.