13 June 2024

AccountsIQ secures €60M investment to embed AI into its platform and shape the finance function of the future

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AccountsIQ, the cloud-based accounting platform, today announced that it has secured a €60M investment from Axiom Equity, a specialist B2B SaaS growth equity fund. The investment will be focussed on continuing to develop the AccountsIQ product to shape the finance function of the future, taking advantage of advancement in AI throughout all aspects of the solution.

AccountsIQ provides a financial management system (FMS) Software-as-a-Service designed to transform the finance function, solving complex problems like multi-currency consolidation, multilevel approvals, third-party integrations, and automation of daily processes. 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 organisation so it can make better decisions.

This investment 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 over 200 people over the next few years and enhancing its AI capability to deliver even more value to its diverse customer base.

Tony Connolly, Founder and CEO 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.