A San Francisco-based accounting firm with its technology operations in Bengaluru, India, has acquired the bookkeeping division of financial operations platform Finally, expanding its reach among American small businesses as the accounting industry faces a shortage of professionals.
Inkle, an AI-powered certified public accountant (CPA) and bookkeeping firm, announced the acquisition on Oct. 28. The deal brings approximately 100 employees from Finally’s bookkeeping division into Inkle, expanding its workforce to around 160 people across the United States, India, the Dominican Republic, Colombia and Puerto Rico.
The financial terms of the all-cash asset purchase were not disclosed.
The acquisition marks Inkle’s first major expansion through a purchase and extends its business beyond venture-backed startups to the small businesses that form a significant part of the American economy. Its target customers include contractors, restaurants, medical clinics, professional services firms and other businesses that need help managing their books, taxes and regulatory requirements.
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The deal comes as U.S. accounting firms face mounting pressure to meet demand for their services with a shrinking pipeline of new professionals. According to the American Institute of Certified Public Accountants’ 2025 Trends Report, U.S. colleges and universities awarded 55,152 accounting degrees in the 2023-24 academic year, a 6.6% decline from the previous year.
At the same time, many experienced accountants are approaching retirement, creating concerns about the industry’s ability to meet the financial and compliance needs of millions of American businesses.
Inkle is betting that artificial intelligence, automation and a globally distributed workforce can help close that gap.
Founded in 2022 by Anand Krishna and Ranvir Singh, the company operates as a U.S. accounting firm while building much of its technology in India. Krishna leads the company from San Francisco, while Singh oversees technology from Bengaluru, where a 60-member team of engineers, product designers, tax professionals and bookkeepers develops its software and supports its operations.
The company combines U.S.-licensed CPA services with software and AI tools developed by its Bengaluru team. Its products include Inkle Books, a general ledger and accounting platform, alongside tax and compliance tools designed to automate routine financial tasks.
For American customers, the company says this model allows accountants to serve more businesses while reducing the manual work involved in bookkeeping and tax preparation. Its engineers also work closely with the accountants and bookkeepers using the software, allowing the company to address operational problems quickly.
“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.
“That combination is our edge: U.S. CPAs who own the outcome, and an engineering team in India building the software and AI that let them serve far more businesses, far better, than a traditional firm,” he added.
Krishna said the company aims to build an AI-powered accounting business capable of serving a much wider range of American companies.
The acquisition also expands Inkle’s customer base beyond technology startups. Before the deal, the company helped hundreds of businesses incorporate in the United States 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 bringing Finally’s bookkeeping business into its operations, Inkle aims to reach more traditional small businesses that may not have access to in-house accounting teams. The company said Finally’s bookkeeping customers will continue working with their existing teams, which will transition to Inkle’s platform.
The acquired division’s approximately 100 employees are based across the Dominican Republic, Colombia, Puerto Rico and the United States, including Miami, Boca Raton and New York. Combined with its Bengaluru operation, Inkle said the expanded workforce will support customers across the Americas and Asia around the clock.
The acquisition also provides a test of whether Inkle can integrate a sizable existing bookkeeping operation into technology developed in India without disrupting service for customers.
Unlike several competitors that have raised substantial amounts of venture capital, Inkle said it has reached profitability after raising $1.5 million in pre-seed funding from Picus Capital, Saison Capital and Force Ventures. It did not disclose its revenue or profitability figures.
The company 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 including QuickBooks, Xero, Zoho Books and Mercury Books.
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The transaction comes as technology companies increasingly explore ways to combine automation with specialized professional services. For accounting firms, AI could help reduce time spent on repetitive tasks, although tax preparation, financial reporting and regulatory compliance still require professional oversight.
For Inkle, integrating Finally’s bookkeeping division will determine whether its India-built technology can support a much larger customer base while maintaining the service standards American small businesses expect.
The company is headquartered in San Francisco and incorporated in Delaware, with its product and engineering hub in Bengaluru. It has teams in five countries and serves thousands of U.S. businesses, according to the company.