Xero, a small business online accounting service, announced today it has received $16.6 million in its latest round of funding. PayPal co-founder and early Facebook investor Peter Thiel participated in the round. ?Xero was founded in 2006 in New Zealand, started by a few?entrepreneurs?who struggled to get the right financial information make business?decisions?and set out to build an accounting software?that caters to small?business?and?accountants,? said?Jamie Sutherland (pictured right), Xero?s President of US Operations in an interview with VentureBeat.
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