The Acquisition and Sunset of Midday
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the gist
Midday, an open-source finance platform for freelancers, was acquired by Ramp, leading to the planned shutdown of the hosted service while leaving the codebase available for community self-hosting.
The Product Architecture
Midday was built as a high-performance, design-focused alternative to legacy accounting software like QuickBooks. The application is a single TypeScript monorepo utilizing a modern stack: Next.js and React for the frontend, Supabase for the database and authentication, and Trigger.dev for managing background tasks like bank reconciliation and receipt processing. The platform aggregates financial data across the US, Canada, and Europe by integrating providers such as Plaid and Teller. Cross-platform deployment is handled via Tauri for desktop and Expo for mobile, ensuring a consistent experience across devices.
Core Functionality
The platform focused on automating the administrative burden of freelancing through three primary modules:
- Invoicing and Time Tracking: Users could link billable hours directly to invoices and track payment status in real-time.
- Magic Inbox: This feature utilized automated matching to reconcile incoming receipts and bills against bank transactions.
- Financial Intelligence: An integrated AI assistant provided insights into spending patterns and client profitability, while a secure vault allowed for the centralized storage of contracts and agreements.
The Acquisition Outcome
Ramp acquired Midday in May 2024, primarily to integrate the founders and their design philosophy into the larger corporate entity. As a result, the hosted version of Midday is being phased out over a 90-day period. Because the project was released under the AGPL license, the source code remains available on GitHub. Users who wish to continue using the platform must now self-host the application by providing their own Supabase instances and bank integration keys, a process that requires significant technical setup compared to the original managed service.