US accounting firm built in India acquires Finally’s bookkeeping business

# Inkle Acquires Finally’s Bookkeeping Division to Expand US Small-Business Services

Inkle, an AI-powered accounting and bookkeeping firm headquartered in San Francisco with a major technology operation in Bengaluru, India, has acquired the bookkeeping division of financial operations platform Finally. The deal expands Inkle’s presence among American small businesses as accounting firms face growing demand for services and a declining pipeline of new professionals.

Announced on October 28, the all-cash asset purchase brings approximately 100 employees from Finally’s bookkeeping division into Inkle, increasing its workforce to around 160 people across the United States, India, the Dominican Republic, Colombia and Puerto Rico. The financial terms were not disclosed.

The acquisition represents Inkle’s first major expansion through a purchase and broadens its customer base beyond venture-backed startups. The company plans to serve more traditional small businesses, including contractors, restaurants, medical clinics, professional services firms and other organizations that need assistance with bookkeeping, taxation and regulatory compliance.

## Accounting Industry Faces a Growing Talent Shortage

The acquisition comes as US accounting firms face increasing pressure to meet demand for financial services with fewer new professionals entering the industry.

According to the American Institute of Certified Public Accountants’ 2025 Trends Report, US colleges and universities awarded 55,152 accounting degrees during the 2023–24 academic year, a decline of 6.6% from the previous year. Meanwhile, many experienced accountants are approaching retirement, raising concerns about the industry's ability to support millions of businesses.

Inkle is seeking to address this challenge by combining artificial intelligence, automation and a geographically distributed workforce. Its approach is designed to reduce repetitive manual work and enable accounting professionals to serve more clients without relying entirely on traditional staffing models.

## Combining US Accounting Expertise With Bengaluru Technology

Founded in 2022 by Anand Krishna and Ranvir Singh, Inkle operates as a US accounting firm while developing much of its technology in India. Krishna leads the business from San Francisco, while Singh oversees technology operations in Bengaluru.

The Bengaluru hub employs approximately 60 engineers, product designers, tax professionals and bookkeepers who develop the company’s software and support its services.

Inkle combines services delivered by US-licensed certified public accountants with software and AI tools built by its Indian team. Its products include Inkle Books, a general ledger and accounting platform, along with tools for tax preparation and regulatory compliance.

The company says this model allows accountants to spend less time on routine bookkeeping and administrative work while focusing on customer needs and more complex financial matters. Close collaboration between engineers and accounting professionals also helps the company address operational challenges and improve its products.

“Inkle is an American company that serves American small businesses, and it’s built in Bengaluru,” Krishna, the company’s co-founder and CEO, said in a statement.

He added that combining US CPAs who take responsibility for customer outcomes with an engineering team in India gives the company an advantage over traditional accounting firms.

## Expanding Beyond Startups to Main Street Businesses

Before the acquisition, Inkle primarily supported startups and entrepreneurs establishing businesses in the United States. The company helped hundreds of businesses incorporate in the country each year, including companies founded by Indian entrepreneurs seeking access to American investors and customers.

Many of these businesses establish Delaware C-corporations and require ongoing assistance with federal tax returns, Delaware franchise taxes and cross-border reporting obligations. Inkle also works with Stripe Atlas as a cross-border compliance partner for Indian founders.

By acquiring Finally’s bookkeeping division, Inkle intends to reach a broader range of small businesses that may not have dedicated in-house accounting departments.

The company said customers of the acquired division will continue working with their existing teams as those teams transition to Inkle’s platform. The acquired employees are based across the Dominican Republic, Colombia, Puerto Rico and the United States, including Miami, Boca Raton and New York.

Together with its Bengaluru operation, the expanded workforce is expected to support customers across the Americas and Asia around the clock.

## Profitability and an AI-Based Service Model

Unlike many competitors that have raised substantial venture capital, Inkle said it has achieved profitability after securing $1.5 million in pre-seed funding from Picus Capital, Saison Capital and Force Ventures. The company did not disclose its revenue or detailed profitability figures.

Inkle offers its accounting software without a subscription fee and charges customers for bookkeeping, tax preparation and compliance services supported by AI. Customers can use Inkle Books or receive services through platforms such as QuickBooks, Xero, Zoho Books and Mercury Books.

The acquisition will test whether Inkle can integrate a substantial existing bookkeeping operation into its India-built technology platform while maintaining service quality for American customers.

The transaction also reflects a broader shift toward combining automation with specialized professional services. Although AI can reduce the time spent on repetitive accounting tasks, tax preparation, financial reporting and regulatory compliance continue to require appropriate professional oversight.

Headquartered in San Francisco and incorporated in Delaware, Inkle operates across five countries, with Bengaluru serving as its product and engineering hub. The company says it serves thousands of US businesses.

Its latest acquisition is intended to expand that reach and demonstrate whether technology, professional expertise and a distributed workforce can help accounting firms meet the needs of a wider range of small businesses.