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Our Corporate Finance team advises Axiom Equity on its investment in AccountsIQ

4 July 2024

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Our Corporate Finance team recently provided financial and tax due diligence services to Axiom Equity, a specialist B2B Software as a Service (SaaS) growth equity investor, on their investment in AccountsIQ.

Established in 2004, AccountsIQ offers cloud-based accounting software, implementation and support services for medium-sized companies and non-profit organisations. Their Financial Management System (FMS), offered as a SaaS solution, is designed to transform the finance function, solving complex problems such as multi-currency consolidation, multi-level approvals, third-party integrations and the automation of daily processes.

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.”

Martin Wygas, Founding Partner of Axiom Equity, added, “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.”

Brad McAvoy, who led the team at James Cowper Kreston Corporate Finance, commented, "We were delighted to work with Axiom Equity on another transaction in the TMT sector. This investment marks a significant milestone for AccountsIQ, allowing them to enhance their offerings and value for their users. We look forward to seeing the success and growth of AccountsIQ as they continue to revolutionise the finance sector."