Australia is now the leading region for number of Xero customers globally, as revealed in its interim report published on the ASX.

According to the recently released figures, revenue for Xero in Australia has grown 124% for the six month period ending 30 September 2013 compared to the same period a year ago.

“With a major focus on growth supported by NZD$200m in the bank and no debt, we are moving quickly on market share in the Australasian market” says Chris Ridd, Managing Director, Xero.

“We have an excellent product and proven ability to innovate and operate.

"We recently published our features timeline which showed frequent big ticket releases over the years. No other new entrant has had comparable resources to create the breadth of platform that Xero has already delivered.

"Xero is in a stronger financial position than our competitors in the Australasian market. We will continue to build a world class team and invest in our pure cloud accounting software model.”

With offices in Melbourne, Sydney, Canberra, Perth and Brisbane, Xero has seen staff numbers surge to 100, with a dedicated development team working on Tax, with launch expected in June, 2014, in time for the Australian End of Financial Year.