Dublin’s AccountsIQ raises €60M to boost AI integration in cloud accounting platform: Know more

Dublin-based AccountsIQ, a cloud-based accounting platform, has secured €60M in a Series C round of funding led by Axiom Equity, a B2B SaaS growth equity fund.

The funding aims to develop AccountsIQ’s product further, enhancing its capabilities to integrate Artificial intelligence (AI) advancements across its solution.

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

A scalable cloud accounting software

Founded in 2004 by Tony Connolly, AccountsIQ offers a Software-as-a-Service (SaaS) financial management system (FMS) designed to transform finance functions. 

It addresses challenges such as multi-currency consolidation, multi-level approvals, third-party integrations, and daily process automation. 

The platform enables digital collaboration between finance teams and business stakeholders, providing timely and relevant information to enhance organisational financial intelligence and decision-making capabilities.

Serving over 1,000 customers and 20,000+ users globally, AccountsIQ supports organisations seeking financial management without the complexity.

Capital utilisation

The funds will accelerate AccountsIQ’s growth as a “leading international” FMS provider, expanding its team to over 200 people and bolstering its AI capabilities. These enhancements aim to deliver increased value to its global customer base.

Founder and CEO Connolly says, “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.”