Cloud-based accounting software provider AccountsIQ has acquired ExpenseIn, the expense management software that enables businesses to take control of their expense and invoice management process.
Financial terms of the deal weren’t disclosed. ExpenseIn, which joins the AccountsIQ Group, will continue trading with its existing name, according to a media release.
AccountsIQ says the acquisition reflects its vision to expand beyond finance teams into the broader business user function, bringing a multiproduct solution to the office of the CFO, including spend card management and embedded payments.
By integrating ExpenseIn’s advanced capabilities, the AccountsIQ Group now supports a combined user base of more than 175,000 users.
“Both AccountsIQ and ExpenseIn have a shared vision for innovation and growth, and we’ve had an increasing number of joint customers in recent years,” AccountsIQ CEO Darren Cran said in a statement. “This acquisition bolsters our position as a leading finance management solution for ambitious finance teams in the mid-market, with our combined knowledge and experience allowing us to really understand what our customers need and deliver the technology to match.”
Founded in 2015, ExpenseIn processes more than a million expenses every month and has a customer base that spans over 40 countries. Its customers include Ascot, Corpay, and Bath Rugby.
“There’s a natural synergy between our companies, as both AccountsIQ and ExpenseIn are passionate about delivering great products and experiences for our customers,” said Richard Jones, managing director of ExpenseIn. “We share a joint commitment to provide the office of the CFO with market-leading software and understand the changing requirements of fast-paced modern finance teams and the challenges they face. I look forward to working closely with Darren and the AccountsIQ team as we continue to innovate and scale.”
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Tags: Accounting, Cloud Technology, Technology
