Home Breaking News Ireland based start-up AccountsIQ raises USD 7 Million funds

Ireland based start-up AccountsIQ raises USD 7 Million funds

Dublin based start-up AccountsIQ has secured USD 7 million funds on 19th of February, 2021 in a Venture round led by Finch Capital. 

Investors: The acquisition of USD 7 million funds took place in the Venture round led by Finch Capital along with the involvement of previous investors like Enterprise Equity and AIB Seed Capital Fund. 

What the funding is for: The fresh funding would be utilized for the development of their financial management software for multi entity SMEs. According to reports, the organization is also aiming to expand their reach all over the world and to advance their user client interface. 

About the company: AccountsIQ is a privately held organization which functions under the information technology and services sector. Its headquarters is established in Dublin, Ireland and has a work strength of approximately 51-200 employees. They also deal with various specialties like cloud accounting, paperless office and franchise software. AccountsIQ is basically a SaaS platform which develops and advertises cloud accounting and consolidation software. 

What the CEO has to say: “To date, the accountsIQ software is used by 4000 companies across various industries, from nonprofits to banks with clients such as PWC Linesight Global Construction Group, Asavie Technologies, GP Bullhound and Throgmorton. Broadly speaking the start-ups target customer is any business where multi-entities are involved and that require each entity to be accounted for separately but managed centrally.” — Tonny Conolly, CEO of AccountsIQ. 

“We also claim to employ Artificial Intelligence and an open API strategy to automatically synchronize bank accounts, generate electronic payments and auto post electronic invoices with easy approval workflow and expense capture via smartphones.” — Tonny Conolly, CEO of AccountsIQ. 

What the investors have to say: “Managing the finances of multi entity businesses was difficult prior to the cloud, requiring each entity to prepare accounts and send them in centrally for review and analysis. The cloud solution means that all entities can access simultaneously and collaborate with head office or their accountants to process their own transactions, while offering full consolidation of results in the group-based currency. To allow east central reporting and benchmarking of life result at the touch of the button.” — General Manager at Finch Capital. 

“To enable the one vision of the truth, the organization has been designed to be able to handle various reporting complexities, such as sub groups, multiple currencies revaluation and intercompany transactions.” — CEO of Enterprise Equity.

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