Ghanaian ‘Float’ Acquires Nigerian ‘Accounteer’ To Provide Accounting Services To Small Businesses

Float, a Ghanaian cash flow and spend management platform, has completed a full acquisition of the Nigerian accounting platform, Accounteer.

This Nigerian subscription-based cloud-based accounting service combines bookkeeping, tax prep, and financial advisory services all in one platform for African businesses, 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. 

According to previous reports – this deal comes eight months after Float closed its $17 million equity and debt seed funding, one of Africa’s biggest seed rounds.

Besides its core service, 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, according to TechCabal.