AccountsIQ raises €60m in Series C funding led by Axiom Equity to expand its team and artificial intelligence capabilities.
Axiom Equity led the Series C financing, which will be used to scale headcount and develop artificial intelligence features.
≈ £50.5M at €1 = £0.8419 on 13 Jun 2024
AccountsIQ provides a cloud financial management platform that helps businesses handle complex accounting processes and multi-currency consolidation.
AccountsIQ has secured €60m in Series C funding to expand its team and accelerate artificial intelligence development. The investment was led by Axiom Equity.
The company plans to double its headcount to over 200 employees over the coming years and integrate advanced artificial intelligence capabilities into its financial management software. The capital will also support international growth and further product enhancement for its global customer base.
Founded to provide scalable cloud alternatives to legacy accounting systems, AccountsIQ serves over 4,000 businesses worldwide. The latest financing marks a significant milestone as the firm looks to scale its operations and deepen its technological edge.
From the founder
"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 to 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 at AccountsIQ
Investor perspective
"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. Recognising 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, Axiom Equity
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
Investors
About the company
AccountsIQ
AccountsIQ delivers cloud-based accounting and financial management software for growing businesses.