The Seattle-area fintech startup Finagraph has merged with LeaseCrunch, a Milwaukee-based company that sells accounting software. The announcement was made on December 6, 2024, but the terms of the deal were not disclosed. Finagraph was founded in 2010 and develops financial data analysis software.
It automates data collection and analysis from popular accounting systems such as QuickBooks and Microsoft Dynamics. The company’s founder and CEO is James Walter, who previously worked at Microsoft on projects including Xbox and Windows 7. The merger brings together the strengths of both companies.
It also expands their customer base, which now includes more than 750 CPA firms. LeaseCrunch is expanding its capabilities by integrating the expertise behind Strongbox. Strongbox automates financial data collection and analysis for CPA firms.
This strategic step broadens LeaseCrunch’s reach to a global CPA firm customer base of over 750. Before this, LeaseCrunch had 650 CPA firm customers.
Fintech merger expands CPA tools
“This integration brings together LeaseCrunch’s lease accounting expertise and advanced data extraction and analysis solutions,” said LeaseCrunch CEO Mark Weidick in an email. “Together, we empower CPA firms to automate time-consuming tasks, enhance efficiency, and deliver greater strategic value to their clients. This also enables us to provide our customers with even more tools to streamline workflows and operations.”
Initially, the plan is to brand Strongbox as “powered by LeaseCrunch.” Future branding decisions will be made to best serve the company’s clients’ needs.
“We’re thrilled to join forces with LeaseCrunch,” said James Walter in a statement. “Together, we’re enhancing the productivity of CPA firms by streamlining workflows, providing real-time financial intelligence, and delivering precise data for critical decisions.”
The aim is to support CPA firms with tools for collecting and analyzing financial data from their clients. This will enhance services in audit, financial due diligence, and client accounting services.
“The integration aligns with our mission to empower CPA firms with solutions that enhance client engagement, increase operational efficiency, and enable firms to better serve clients,” added Weidick. “By expanding our toolset, we are addressing critical needs across audit, financial due diligence, and client accounting services, paving the way for continued growth.”
This step follows several significant developments at LeaseCrunch. In June, the company announced an update to its leadership team.
Mark Weidick was appointed as CEO, Jessica Hamilton as Chief Financial Officer, and Miguel Perez as Chief Product Officer. In January, LeaseCrunch secured a major investment from Aquiline Capital Partners for an undisclosed amount. The combined expertise of Finagraph and LeaseCrunch promises to deliver comprehensive solutions that meet the evolving needs of CPA firms globally.
