LeaseCrunch LLC, a lease accounting and lease management software provider, has announced a major growth investment from Aquiline Capital Partners LP, a private investment specialist with $10 billion in assets under management that invests across financial services and related technologies.
LeaseCrunch optimizes lease accounting processes for CPA firms by automating calculations and the required deliverables. The solution allows firms to streamline operations, save time, reduce errors, lower costs and simplify compliance with the new lease accounting standards. Through its distinctive dual access capabilities, LeaseCrunch enables CPA firms to work independently or collaboratively with their clients.
Founded by a team of former CPAs and accounting auditors in 2016, LeaseCrunch has grown to support over 600 CPA firms, including many of the largest in the U.S. Following the investment from Aquiline, LeaseCrunch will continue to scale the business through organic growth by expanding its product offering and capabilities to better serve its existing customer base and will pursue M&A opportunities to add further capabilities in line with customer demand.
Ane Ohm, CEO and Co-Founder of LeaseCrunch said: “We are excited about the investment from Aquiline Capital Partners, which reaffirms our commitment to transforming lease accounting for CPA firms. This partnership will propel us to innovate further and provide enhanced solutions to our clients, empowering them to navigate the evolving landscape of accounting standards with confidence and ease.”
Bruce Crabtree, Principal at Aquiline, commented: “The LeaseCrunch team has built an impressive platform that effectively streamlines lease accounting, enabling CPA firms and corporate leaders to optimise their operations. As CPA firms face material talent shortages and growing demand for their services, it is imperative that firms adopt leading software solutions to automate workflows and increase efficiencies. We are thrilled to join forces with LeaseCrunch, leveraging our deep expertise in investing in mission critical software businesses to further accelerate the company’s growth.”
Marks Baughan served as the exclusive sell-side advisor to LeaseCrunch in the transaction. The transaction closed in the fourth quarter of 2023. Additional financial details of the transaction were not disclosed.
Sign in to get access to this free resource, and all of our whitepapers and reports.
Download this content today!
Register Now Already registered? Click here to Log In
