FinQuery, formerly known as LeaseQuery, has secured a significant minority investment to the tune of $25m, led by Periphas Capital and supported by Lavelle Capital.
The company is renowned for its AI-driven SaaS platform that integrates functions across finance, accounting, and IT departments. FinQuery helps manage significant financial contracts, including leases, software subscriptions, and other related agreements. This enables companies to gain comprehensive insights into their spending patterns, software usage, and financial forecasting, ultimately facilitating more informed decision-making and streamlining complex accounting tasks.
With the fresh influx of $25m, FinQuery plans to accelerate its product development and expand its market reach through strategic acquisitions.
Since its inception in 2011, FinQuery has shown a steadfast commitment to simplifying and automating complex accounting and compliance processes related to various standards such as ASC 842, IFRS 16, GASB 87, and GASB 96. The company has grown significantly over the years, expanding its customer base by 300% in the last two years alone. It now serves over 8,000 clients, including more than 600 public companies, as well as numerous universities and government entities.
FinQuery CEO and Founder George Azih expressed his enthusiasm about the partnership with Periphas Capital and Lavelle Capital. “We’re thrilled to have Periphas Capital and Lavelle Capital join FinQuery as investors.
“Their enthusiasm for our mission is evident, and with their support, we anticipate an acceleration in our growth, both organically and through strategic acquisitions. We’re humbled to have grown our customer base by 300% in the last two years and excited to serve even more as we expand.”
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