Investors have been scrambling to get a hold of its shares since it announced to the market last week that its number of subscribers in the UK has exceeded 250,000.
Xero develops cloud based accounting software and is currently one of the fastest growing software as a service companies globally. Based in New Zealand the accounting software firm has over 1 million subscribers and is the market leader in Australia and New Zealand.
Although the company reported a net loss of $68 million the company's revenue increased a staggering 44% for FY 2017.
The company is spending heavily on marketing to increase market share within the lucrative North American and European markets. With the recent announcement coming out of the UK it appears as though things are tracking along nicely.