US software group Intuit has acquired Sequence, the London-based AI billing and revenue platform, in a deal reported to be worth about $200m. The company had raised roughly $40m from backers including Andreessen Horowitz and Passion Capital.
Sequence was founded in 2021. It automates billing, payments and revenue management for businesses and operates from London and New York. Its customers include AI startups Legora and Cognition.
Neither side has published the terms. The Times reported a price of about $200m, which would make it one of the largest exits to date by a UK AI startup with a female co-founder.
The cap table
Ownership is concentrated among the founders, which makes this deal stand out. The Times reports that co-founder Riya Grover holds more than 45% of the company and co-founder Eamon Jubbawy more than 15%.
At a $200m price, Grover's stake would be worth more than $90m before any deal adjustments and Jubbawy's more than $30m. Together the founders would still hold over 60% after roughly four years and about $40m of external funding. For a venture-backed business that is unusually little dilution.
The investor base includes Andreessen Horowitz, which led a $19m seed round in 2022, plus Passion Capital, firstminute capital and 645 Ventures. On reported numbers, the exit would return around five times the total capital raised.
Repeat founders
Both founders have sold companies before. Grover, a former Deutsche Bank employee, co-founded and ran food-tech startup Feedr, which Compass bought in 2020 in a $24m deal. Jubbawy co-founded identity verification company Onfido, which was sold for $650m in 2024. He also founded and runs carbon removal registry Isometric.
Grover called the sale a major milestone and said joining Intuit would let Sequence work at a much larger scale.
Why it matters
For Intuit, which owns QuickBooks, TurboTax and Mailchimp, the deal adds usage-based and AI-native billing infrastructure. Demand for that kind of tool is growing as more software companies price by consumption.
For the UK ecosystem, it is another example of a London fintech being bought by a US acquirer rather than scaling to a domestic listing. It is also a clear case of founder-heavy ownership turning a mid-sized trade sale into a large personal payout. Integration plans and staffing arrangements have not been disclosed.
Original source: Tech.eu (citing The Times) — https://tech.eu/2026/10/16/a16z-backed-uk-fintech-sequence-sold-to-intuit-in-reported-200m-deal/
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