AccountsIQ secures €60m to embed AI into accounting platform

Dublin-based financial management software firm AccountsIQ has secured a €60 million Series C investment from growth investment fund Axiom Equity.

Founded in 2004, AccountsIQ plans to use the investment to advance its development, focusing on enhancing its AI capabilities and expanding its team to over 200 people in the coming years.

Since 2008, AccountsIQ’s cloud-based Software-as-a-Service (SaaS) accounting platform has been serving mid-sized businesses in Ireland and the UK. The platform offers automated accounting processes, multi-entity consolidation, financial reporting and analysis, and comprehensive general ledger functionality, among other features.

AccountsIQ anticipates that integrating AI into its platform will provide even greater value to its diverse customer base and shape the future of the finance function.

Founder and CEO Tony Connolly stated that AccountsIQ is “now poised to take the AccountsIQ product and service to the next level.” He added, “This investment comes at a perfect inflection point for our offering, allowing us to leverage AI tools into practical, easy-to-adopt services for our user base, making finance team roles more flexible, valuable, less repetitive, and more interesting.”

This latest funding round builds on the €5.8 million investment AccountsIQ received from Finch Capital in 2021.

Source: fintechfutures.com

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