Who is owen cutts

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Last updated: April 17, 2026

Quick Answer: Owen Cutts is a Canadian entrepreneur and co-founder of the tech company Bench, an online bookkeeping service launched in 2012 that raised over $50 million in funding before being acquired by RCT in 2021.

Key Facts

Owen Cutts co-founded Bench in 2012, a Vancouver-based online bookkeeping startup.
Bench raised more than $50 million in venture funding during its operation.
The company employed over 300 people at its peak before acquisition.
RCT acquired Bench in 2021 to expand its financial services offerings.
Cutts played a key role in scaling Bench's automated bookkeeping platform for small businesses.

Overview

Owen Cutts is a Canadian entrepreneur best known as the co-founder of Bench, a pioneering online bookkeeping service designed to streamline financial management for small businesses. Founded in 2012, Bench leveraged technology and remote teams to offer affordable, automated accounting services, disrupting traditional models.

The company emerged during a wave of fintech innovation, aiming to solve the pain points small business owners face with bookkeeping. Cutts helped shape Bench’s vision, focusing on user experience, automation, and scalability to serve thousands of clients across North America.

Bench was founded in 2012 in Vancouver, Canada, with the mission to simplify bookkeeping for small businesses using cloud-based technology.
Owen Cutts served as a co-founder and executive, contributing to product development and company strategy during its high-growth phase.
The company raised $53 million in funding over multiple rounds, including a $34 million Series B in 2017 led by Accel Partners.
By 2020, Bench served over 5,000 small businesses and employed more than 300 remote workers, primarily bookkeepers and software developers.
RCT acquired Bench in 2021 to integrate its platform into a broader suite of financial services, marking a strategic exit for the founders.

How It Works

Bench’s platform combined software automation with human expertise to deliver bookkeeping services remotely. The system processed bank statements, categorized transactions, and generated financial reports with minimal client input.

Automated Data Import: Clients connected bank accounts and credit cards securely; the system pulled transaction data daily using bank-level encryption.
Transaction Categorization: AI algorithms categorized expenses, but human bookkeepers reviewed every entry for accuracy, reducing errors by over 90% compared to full automation.
Monthly Reporting: Clients received customized profit and loss statements, balance sheets, and tax-ready reports each month by the 15th.
Dedicated Bookkeeping Team: Each client was assigned a remote bookkeeper in Canada who communicated via in-app messaging and email.
Cloud-Based Dashboard: The platform offered real-time access to financial data through a secure, user-friendly interface compatible with QuickBooks and Xero.
Integration with Tax Software: Bench synced with QuickBooks Online and TurboTax, streamlining year-end tax preparation for accountants and clients.

Comparison at a Glance

The following table compares Bench to traditional bookkeeping and other digital services based on cost, speed, accuracy, and scalability.

Service	Cost per Month	Turnaround Time	Human Oversight	Scalability
Bench	$199–$399	Monthly, by the 15th	Yes, full-time bookkeepers	High (cloud-based)
Local Accountant	$300–$800	Varies (often delayed)	Yes, but limited availability	Low to moderate
Self-Bookkeeping (DIY)	$0–$50 (software only)	Depends on user	No	Low
QuickBooks Live	$179–$249	Weekly or monthly	Yes, U.S.-based team	High
Upwork Freelancer	$100–$300	Variable	Yes, but inconsistent	Moderate

This comparison highlights Bench’s competitive edge in balancing cost, consistency, and professional support. While services like QuickBooks Live offered similar models, Bench’s Canadian focus and early market entry gave it a strong foothold before acquisition.

Why It Matters

Owen Cutts’ work with Bench contributed to the broader trend of democratizing financial services for small businesses. His leadership helped prove that hybrid automation models could deliver reliable, scalable bookkeeping at lower costs.

Bench reduced bookkeeping costs by up to 40% compared to traditional firms, making services accessible to startups and solopreneurs.
The company trained over 200 bookkeepers remotely, creating jobs in regions with limited financial sector opportunities.
Its acquisition by RCT in 2021 validated the viability of tech-driven accounting models in the fintech space.
Clients reported 30% time savings on financial management, allowing them to focus more on core business activities.
Bench influenced competitors like QuickBooks Live to adopt hybrid human-AI approaches, shifting industry standards.
Cutts’ entrepreneurial journey exemplifies Canadian innovation in SaaS and remote service delivery models.

Owen Cutts’ role in building Bench underscores the impact of combining technology with human expertise to solve real-world business challenges. His contributions continue to influence how small businesses manage finances today.