LeaseCrunch Expands Through Finagraph Merger to Enhance CPA Firm Offerings

Deal News | Dec 04, 2024 | Globenewswire

LeaseCrunch Expands Through Finagraph Merger to Enhance CPA Firm Offerings

LeaseCrunch LLC has announced its merger with Finagraph, aiming to bolster its offerings for CPA firms through enhanced financial intelligence. This merger will increase their customer base from 650 to over 750 CPA firms globally, including some of the largest in the industry like the Big Four. By integrating Finagraph's Strongbox product, renowned for automating financial data collection and analysis, LeaseCrunch endeavors to streamline workflows for CPA firms, providing them real-time financial insights for strategic decision-making. Both companies intend to provide CPA firms with tools to simplify complex tasks, thereby improving efficiency, and reducing resource dependency. The CEOs of both firms express excitement about forming a robust company that addresses crucial needs in audit, financial due diligence, and client accounting services. Their collaboration is poised to enhance productivity and client experience while lowering operational burdens through automation.

Sectors

  • Software as a Service (SaaS)
  • Accounting and Financial Services

Geography

  • United States – LeaseCrunch is based in Milwaukee, and both companies primarily serve CPA firms in the US, including major auditing and financial services firms.
  • Global – The merger aims to expand its reach to CPA firms worldwide, emphasizing the growth of its international footprint.

Industry

  • Software as a Service (SaaS) – Both LeaseCrunch and Finagraph provide software solutions that automate and streamline processes for CPA firms, positioning them within the SaaS sector.
  • Accounting and Financial Services – This merger focuses on enhancing financial intelligence solutions for CPA firms by integrating deep data analytics and lease accounting software.

Financials

    Participants

    NameRoleTypeDescription
    LeaseCrunchAcquiring CompanyCompanyA leading provider of lease accounting software serving over 650 CPA firms.
    FinagraphTarget CompanyCompanyA software firm specializing in real-time financial data collection and analysis.
    Mark WeidickCEO of LeaseCrunchPersonCEO of LeaseCrunch, leading the company's strategic growth through the merger.
    James WalterFounder and CEO of FinagraphPersonFounder and current CEO of Finagraph, overseeing the merger with LeaseCrunch.