Xendoo, a provider of online bookkeeping and accounting services for small businesses, said on its website that it has acquired the Botkeeper Infinite platform.
Financial terms of the deal weren’t disclosed.
The Fort Lauderdale, FL-based company states on its site:
Xendoo has acquired Infinite, the core technology developed by Botkeeper and designed to support CPA and accounting practices.
This step reflects our commitment to preserving important innovation and ensuring continuity for the firms and professionals who rely on this platform. Infinite remains fully operational, and our priority is providing a stable environment where the technology can continue to evolve and support the accounting community.
What This Means for Botkeeper Infinite Users
- Infinite – Business as Usual: Your current access to Infinite remains active and supported.
- Enhanced Support: Our first priority is connecting with you to provide the assistance needed to ensure your continued success.
At Xendoo, our approach remains unchanged for our core product to small business owners. We continue to combine dedicated accounting professionals with advanced technology to deliver reliable, human centered financial support.
Botkeeper CEO Enrico Palmerino said earlier this month that the automated bookkeeping platform he founded in 2015 is shutting down.
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Botkeeper had raised nearly $90 million in funding, including $42 million in Series C funding in November 2021 led by Grand Oaks Capital, an investment firm founded by Paychex founder and chairman Tom Golisano.
Palmerino wrote in a note to customers that Botkeeper’s Infinite solution, which helps to streamline automated bookkeeping and back-office accounting for firms without the need for outsourcing, “had become the AI powerhouse we always dreamed of” by the end of 2025. “It was capable of cleaning up years of messy data in minutes, autonomously reconciling accounts, and coding 80%+ of transactions with a staggering 98% accuracy.”
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But despite having raised significant amounts of capital from marquee investors, “a perfect storm of macro-economic shifts arrived more swiftly than we could course-correct,” he said.
Palmerino wrote, “Over the years, we oscillated between Product Concept Fit, a term I coined internally, and Product Market Fit. As quickly as we iterated on our offering and saw early signs of traction, we were met with equally rapid market shifts. Our team and investors remained optimistic, as we were attempting to modernize one of the oldest and largest markets, leading as a trailblazer and innovator.
“Then in late 2025, we faced a series of unexpected industry consolidation that significantly impacted our largest clients and, in turn, our revenue and planned growth. The speed and scale of these changes altered our financial outlook in a matter of weeks, ultimately leaving us without a sustainable path forward and requiring us to begin an orderly wind-down of the business.
“I have spent the last several weeks pursuing every possible option—exhausting acquisition opportunities, negotiating with lenders, and seeking bridge capital to buy us time to pivot. Because of the sensitive nature of these negotiations and the strict confidentiality required by our partners, I was unable to share the full state of the business sooner. I deeply regret how quickly our momentum toward profitability shifted into insolvency.
“As a founder, I must admit a hard truth: despite our technological triumphs, we did not reach a level of product-market fit strong enough to withstand rapid industry shifts or changing market conditions before our time ran out. We built a world-class solution, but the market moved faster than our capital could keep up.”
Founded in 2016 by CEO Lil Roberts, Xendoo is a venture capital-backed fintech company that provides online bookkeeping, accounting, and tax services to small businesses.
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