Inkle buys Finally’s bookkeeping arm, adding about 100 staff
- Inkle acquired the bookkeeping division of Finally on Oct. 28.
- About 100 Finally staff in the Dominican Republic, Colombia and the U.S. join Inkle.
- Inkle bought the division in an all-cash asset purchase on undisclosed terms.
- Inkle reached profitability on $1.5 million in pre-seed funding.
CALIFORNIA, UNITED STATES — Inkle, a certified public accountant (CPA) and bookkeeping firm that uses artificial intelligence (AI), has acquired the bookkeeping division of Finally, a financial operations platform for small businesses.
About 100 Finally team members in the Dominican Republic, Colombia, Puerto Rico, Miami, Boca Raton and New York join Inkle. Finally’s bookkeeping clients will keep working with the same teams, now on Inkle’s platform.
An all-cash asset purchase
Inkle announced the deal in a press release on Oct. 28. The transaction was structured as an all-cash asset purchase, and financial terms were not disclosed.
The company said the acquisition gives it 24-hour global coverage across its delivery teams in the Americas and Asia.
Inkle said its mission is to build the most trusted brand in U.S. small business tax and accounting.
The deal also deepens its entry into the non-tech segment of U.S. small businesses: owner-operators, professional services firms, contractors, clinics and restaurants.
“Finally’s team built a great bookkeeping business serving thousands of U.S. companies, and we’re proud to welcome them to Inkle,” said Anand Krishna, co-founder and chief executive officer of Inkle.
Free software, paid services
Inkle has reached profitability on $1.5 million in pre-seed funding. It describes that as a fraction of the capital raised by competitors in a category where several better-funded players have exited the market.
The firm now offers its software free and charges only for AI-backed bookkeeping, tax and compliance services, delivered on its own Inkle Books ledger or on QuickBooks, Xero, Zoho Books and Mercury Books.
It builds that software with an in-house engineering team and uses frontier AI so a CPA-led team can serve far more companies than a traditional firm, it said.
Inkle is backed by Picus Capital, Saison Capital and Force Ventures, with teams across the United States, Latin America and India.
“Small businesses don’t want another subscription. They want their books, taxes, and compliance done right, on whatever platform they already use,” Krishna said.
What it means for buyers
For small businesses that hand off their books, the deal brings Finally’s bookkeeping team, with staff in the Dominican Republic, Colombia and the U.S., under an AI-led CPA model, with clients keeping the same bookkeepers.
Its staff in the Dominican Republic and Colombia add to Inkle’s existing teams in Latin America, a nearshore outsourcing base for U.S. clients.
Buyers comparing finance and accounting outsourcing partners can ask how AI changes pricing and staffing, and start with OA’s comprehensive guide to outsourcing finance and accounting.
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