Consero Global, which provides outsourced finance, controller and bookkeeping services as well as an accounting software platform, has received an unusual investment for a firm of its type. Boston-based BV Investment Partners has provided the firm with $50 million in private equity funding, earmarked for the expansion of Consero’s business development efforts and continued development of disruptive technologies, as well as for a focused acquisition strategy.
Consero’s finance-as-a-service solutions take a managed platform approach as opposed to a consultation structures. The company provides its cloud-based financial management software, SIMPL, to clients, as well as traditional CFO, controller and bookkeeping services. The combination of a software platform with the outsourced financial services aims to give companies clarity into how their business is performing, as well as a scalable infrastructure to support daily business operations, without the time, cost and effort of managing a full in-house finance and accounting department.
“This [funding] further validates Consero’s vision for the finance-as-a-service market. Companies don’t want another piece of software to cobble together, they want complete solutions,” stated
“We were first introduced to Consero as a financial solution for our funds’ portfolio companies,” added Matt Kinsey, managing director of BV. “Having knowledge of some of the challenges that mid-market companies experience to generate timely and accurate financial information, we were quick to identify Consero’s platform as critical for informed decision making in a growth environment. The Consero offering has a proven ROI for its customers and is imperative for business operations and management. We are excited to be involved in this pivotal next stage of growth for the company.”
