Cloud-based accounting platform AccountsIQ announced that it has secured a €60 million Series C investment from Axiom Equity. This funding will be used for continuing to develop the AccountsIQ product to shape the finance function of the future, particularly to take advantage of advancement in AI throughout all aspects of the solution.
AccountsIQ offers a financial management system (FMS) Software-as-a-Service designed to transform the finance function, solving complex problems like multi-currency consolidation, multi-level approvals, third-party integrations, and automation of daily processes. And it empowers finance teams to collaborate digitally with stakeholders in their businesses by giving the right information to the right user at the right time, enhancing the financial IQ of the organization so it can make better decisions.
This funding round will enable AccountsIQ to move to the next level of its development as a leading international FMS, growing its resources to more than double its team to 200+ people over the next few years and enhancing its AI capability to deliver even more value to its diverse customer base.
KEY QUOTES:
“Having hit a critical milestone with over 1,000 customers, we are now poised to take the AccountsIQ product and service to the next level. This investment comes at a perfect inflection point for our offering, to allow us leverage AI tools into practical, easy-to-adopt services for our user base; to make finance team roles more flexible, valuable, less repetitive and indeed more interesting.”
- Tony Connolly, Founder and CEO of AccountsIQ
“We were immediately impressed when we met the AccountsIQ team and saw the product and its positioning. The deep understanding of their customer base and forward-thinking vision deeply resonated with our team. Recognizing the potential to accelerate AccountsIQ’s product development with additional capital and expertise, we are excited to be partnering with them to scale AIQ to the next level.”
- Martin Wygas, Founding Partner of Axiom Equity
