Atlanta, April 24, 2024 (GLOBE NEWSWIRE) -- FinQuery, formerly LeaseQuery, a leading provider of AI-powered solutions built to efficiently manage companies’ largest areas of spend, announced a $25 million minority investment led by Periphas Capital and supported by Lavelle Capital. The funding will accelerate product innovation and support strategic M&A.
FinQuery's AI-driven SaaS platform unifies finance, accounting, and IT by managing their largest areas of contracted spend including leases, software, subscriptions, and other financial contracts delivering insights into spending, software usage, cash flow forecasts, and renewals, empowering informed decision-making and simplifying accounting tasks like lease accounting, SBITA reporting and accruals.
“We’re thrilled to have Periphas Capital and Lavelle Capital join FinQuery as investors,” said George Azih, CEO and Founder. “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.”
“The FinQuery team, led by George Azih, has built the industry-leading SaaS solution to manage and report on leases, software, and other contracts,” said Sanjeev Mehra, Managing Partner of Periphas Capital. “FinQuery is poised to continue its rapid growth as it leverages AI, delivers cutting-edge product capabilities, and pursues strategic M&A. We are excited that our investment will accelerate FinQuery’s penetration of the growing market for Office of the CFO software.”
“We are excited to be investing in FinQuery, supporting George and his team," stated Sanjeev Rao, Managing Partner at Lavelle Capital. “We believe that FinQuery is simplifying and automating Office of the CFO workflows, and setting new innovation and customer satisfaction standards. Our investment extends beyond capital; we're committed to enhancing their growth by leveraging our strategic network and benefiting from our expertise.”
Established in 2011 as LeaseQuery, FinQuery's core goal was simplifying complex accounting and compliance tasks arising from ASC 842, IFRS 16, GASB 87, and GASB 96. Through an unwavering commitment to innovation and customer satisfaction, FinQuery has evolved into the world's leading lease accounting software provider, serving 8,000+ clients, including 600+ public companies, universities and government entities. With three acquisitions to date, including Stackshine, a Y-combinator-backed SaaS spend management platform, FinQuery continues to expand its offerings beyond lease accounting.
To learn more about FinQuery, please visit https://finquery.com/.
About FinQuery
FinQuery, formerly LeaseQuery, empowers 36,000+ professionals to optimize decisions in their top spending areas—leases, software subscriptions and financial contracts—setting us apart in the market. Our award-winning AI-driven software minimizes risk, boosts efficiency and cuts costs.
Explore FinQuery’s platform for contract and spend intelligence, including solutions for contract management, specialized accounting ensuring compliance with ASC 842, IFRS 16, GASB 87, and GASB 96, and software management. Learn more at FinQuery.com.
About Periphas Capital
Periphas Capital focuses on growth and buyout investments in technology-enabled companies across business services, consumer, and niche industrial sectors. The principals of Periphas bring over 30 years of private equity investing experience at Periphas and prior firms, having led investments in software and tech-enabled services such as Great Plains Software and SunGard at prior firms, and ShipMonk and OPENLANE at Periphas. For more information, visit: www.periphascapital.com.
About Lavelle Capital
Headquartered in San Francisco, Lavelle Capital is a private investment firm set up to advise a select group of high net-worth investors and family offices. Lavelle Capital is a trusted advisor and thought partner, facilitating meaningful strategic relationships across investment opportunities, family governance and global impact. Lavelle Capital has a focus on growth equity and venture capital and has previously invested in software companies including Bloomreach, Darwinbox, ProcessMaker and ThousandEyes (acquired by Cisco). For more information, visit: www.lavellecapital.com.
