Ghanaian cash flow and spend management platform, Float, has completed a full acquisition of Accounteer, a Nigerian subscription-based cloud-based accounting service that combines bookkeeping, tax prep, and financial advisory services all in one platform for African businesses. The deal was for an undisclosed amount.
Founded in 2015 by Merijn Campsteyn, Accounteer allows users to create invoices, track expenses, and register payments, among other things. The venture-backed company provides accounting software that allows businesses to continue operations offline.
Earlier this year, Float closed a $17 million seed round from investors.
Besides its core service, which is flexible credit lines for businesses to cover cash flow gaps, Float also provides bill automation, vendor or supplier payments, and invoice collections. The company has introduced more features like revenue advances and instant payouts, and is currently testing cross-border remittance in partnership with companies that offer this service.
Float is currently operational in Nigeria and Ghana with a plan to expand into Kenya before the fourth quarter of this year.
Source: TechCabal
