Irish online accounting platform for SMEs secures new investment that will pave way for potential acquisitions.
Accounting software player Big Red Cloud has secured investment from Ishikawa Technologies with backing from Melior Equity Partners.
The investment will enable the online accounting platform that is used by more than 8,000 SMEs to enter a new phase of growth.
“With new investment and a clear path forward, we’re excited to keep making life easier for Irish business owners”
While the terms of the investment have not been disclosed, the plan is to invest further in cloud innovation, automation, payments and exports to the UK where the company’s Turbo Inventory product is gaining traction.
A new chapter
As part of this transition, the CEO of Big Red Cloud Group Marc O’Dwyer will leave the company to pursue other business interests, while chief financial and product officer Paraic Nolan will continue leading key areas of the business.
Incoming CEO, Stuart McCaul, the Founder of Ishikawa Technologies and a seasoned leader in the software sector, will take the helm, ensuring continuity and a renewed focus on customer success.
“Building Big Red Cloud has been an incredible journey,” said O’Dwyer. “I’m immensely proud of how we’ve helped Irish businesses take control of their finances, and I know that the combination with Ishikawa Technologies will only strengthen our ability to serve customers for years to come.”
Paraic Nolan said that following the investment the business will have a renewed focus on customer success.
“We’ve built Big Red Cloud around trust, simplicity, and great support. That won’t change. With new investment and a clear path forward, we’re excited to keep making life easier for Irish business owners.”
Ishikawa Technologies is the seventh investment from Melior Equity Partners Fund II which is backed by a pool of local and international blue-chip investors including The Carlyle Group, the European Investment Fund, Ireland Strategic Investment Fund, Bank of Ireland and AIB.
“We are proud to back Ishikawa Technologies in this strategic acquisition,” said Jonathan Cosgrave, partner at Melior Equity Partners.
“Big Red Cloud is a well-regarded leader in Irish SME software, and with Ishikawa Technologies’ vision and expertise, we see tremendous potential to scale its products, enhance automation, and expand into new markets. This is exactly the type of investment that aligns with our focus on supporting ambitious, high-growth companies in Ireland.”
-
Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
-
For support in challenging times, click here
-
Listen to the ThinkBusiness Podcast for business insights and inspiration. All episodes are here. You can also listen to the Podcast on:
-
Spotify
-
SoundCloud
-
Apple
