Forvis Mazars advises AccountsIQ on its investment from Axiom Equity

AccountsIQ provides a financial management system (FMS) Software-as-a-Service designed to transform the finance function, solving problems like multi-currency consolidation, multi-level approvals, third-party integrations and automation of daily processes.

The investment will enable AccountsIQ to move to the next level of its development as an international FMS, growing its resources to more than double its team to over 200 people across the next few years.

Tony Connolly, founder and chief executive of AccountsIQ, commented: "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.”

John Bowe, Forvis Mazars Partner, Deals – M&A, said that, “This transaction is a fantastic result for the AccountsIQ team and Finch Capital and is testament to the quality of the product they have developed. Forvis Mazars was delighted to provide deal advisory services on this transaction, which further highlights our credentials in advising SaaS businesses. We look forward to seeing where this investment can take the business over the coming years as they continue their expansion in a market with an ever-growing requirement for quality software platforms and rapidly accelerating AI development.”

Finch Capital is a European investment fund focused on business and financial technology companies.

 Axiom Equity is a specialist London-based fund, focused on investment in B2B software technology companies.