FirstCapital is pleased to announce that it advised on the sale of Legerity, a provider of cloud-based accounting rules software, to insightsoftware, a global provider of reporting, analytics, and performance management solutions.
Year over year, finance teams have increased workloads due to more onerous statutory accounting and revenue authority reporting requirements. Finance leaders require greater visibility into financial processes to ensure effective planning and risk mitigation. For many organizations, the processes associated with financial close and reporting are slow and manual. Legerity gives organizations the ability to automate processes and eliminate labour intensive data collection and report development. By creating a consistent, non-siloed data source, it provides real-time visibility into financial and tax data, at any time, which strengthens financial controls and increases the ability to manage risk effectively.
The Legerity accounting rules platform, FastPost, changes the way Insurance, Banking, and Telecommunications companies think about their back-office processes. It was built to handle large volumes of complicated data and process it in the cloud at ultra-fast speed, giving customers the ability to meet regulations and unlock the value of their data. Notably, the platform ensures back-end processes can keep pace with change, such as maintaining compliance with International Financial Reporting Standards (IFRS). It provides a granular level of control to finance and accounting teams.
“This acquisition brings immense opportunity to our employees, customers, and partners. Joining insightsoftware, our growth trajectory has been accelerated, meaning we’ll be able to expand the value we bring to our customers that rely on us for confidence in their financial data.” said Jeremy Wood, CEO, Legerity. “FirstCapital provided invaluable support in advising Legerity on this transaction, both in terms of their strategic perspective, but also in the value they delivered in a highly professional and effective process.”
“We’re delighted to have helped Legerity find such a strong strategic partner in insightsoftware.” said Hazel Moore, Chair, FirstCapital. “This was a win-win deal for all parties and it was a pleasure working with Jeremy and his team to deliver this result.”
FirstCapital is an investment bank providing smarter dealmaking advice to high-growth technology companies in Europe. With offices in London and Silicon Valley and a strong alliance in Germany, we advise software, internet and digital media and tech-enabled services companies on strategic M&A, private equity and growth capital funding transactions. See www.firstcapital.co.uk for more details.
Legerity helps clients deliver digital finance transformation and complex accounting change. FastPost Express is an enterprise-grade, SaaS-delivered IFRS17 solution that won InsuranceERM’s IFRS17 Solution of the Year award in 2021 and 2022. Visit legerityfinancials.com for more information.
insightsoftware is a leading provider of reporting, analytics, and performance management solutions. Over 30,000 organizations worldwide rely on us to support business needs in the areas of accounting, finance, operations, supply chain, tax, budgeting, planning, HR, and disclosure management. We enable the Office of the CFO to connect to and make sense of their data in real time so they can proactively drive greater financial intelligence across their organization. Our best-in-class solutions provide customers with increased productivity, visibility, accuracy, and compliance. Learn more at insightsoftware.com.