inDinero Acquires mAccounting in Move to Transform the Outsourced Accounting Industry

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A financial technology company and a financial service company join forces to provide real value to growth-oriented businesses.

By joining forces, mAccounting and inDinero can shift accounting from a necessary evil to a strategic advantage.

inDinero, leading accounting and tax software for growth businesses, acquired outsourced accounting and tax firm mAccounting to fuel their next phase of growth.

“Founders need both real-time data and a financial partner to help them make smart decisions, secure investment, and scale,” says Keddrick Stuart, COO of inDinero. “Combining inDinero’s technology with mAccounting’s full-stack finance expertise is the key to leading the change in this industry.”

Technology is changing the accounting industry. AI and automation continue to squeeze accounting professionals out of basic bookkeeping work. Consumers now expect information and communication in real-time. That pressure means business owners, especially of growth companies, need more value from their financial team--and fast.

mAccounting shares the inDinero vision to change how businesses think about their finances. “By joining forces, mAccounting and inDinero can shift accounting from a necessary evil to a strategic advantage,” says Tom Gabbert, one of two managing directors of mAccounting. “We’ve always felt like the accounting firm that wanted to be a tech company. By partnering with inDinero, now we really are both.”

Based in Indianapolis, mAccounting started as an outsourced CFO firm, so they have always understood that business owners need a trusted advisor to help grow their companies. As technology makes it easier to connect, companies increasingly recognize the benefits of outsourcing their finance department. “What a business owner is looking for in an outsourced finance solution is help managing their business,” says Jeff Good, also Managing Director of mAccounting, “but what they often get is simply transactional bookkeeping and taxes.”

Jessica Mah, Co-Founder and CEO of inDinero, is out to change that. “As a founder, I know it’s really hard to build a growth business that’s actually sustainable. Your accounting solution should be so valuable, it more than pays for itself,” says Mah. “With the inDinero platform, we can supercharge mAccounting, so that more founders can get access to the financial support they really need.”

This acquisition continues inDinero’s strategy to bring together top talent in the startup and nonprofit industries, as it acquired Silicon Valley-based tempCFO in 2018. To learn more about inDinero’s acquisition program, contact Josh Boyd, VP of Corporate Development (josh.boyd(at)indinero.com).

About inDinero
Founded in 2009, inDinero is the leading financial solution for growing your startup or small business. By automating bookkeeping, accounting, and tax prep, they are unleashing accounting and tax professionals to add more expertise-based value to the businesses they work with and making it easy and effortless for entrepreneurs to track their business’s financial performance and file taxes. Headquartered in Portland, Oregon, inDinero has over 150 global employees at offices across the United States and in the Philippines. Visit inDinero.com or call 855-463-4637 for more information.

About mAccounting
mAccounting, formerly Milestone Advisors, was founded in 2003 with the belief that every company, no matter the size, deserves the financial systems and expert guidance necessary to grow smart. By offering CFO services on a part time basis, they have helped entrepreneurs develop scalable growth plans capable of achieving unbridled financial success.

Today, mAccounting is focused on bringing actionable, custom-developed accounting and bookkeeping processes to small-to-medium-sized companies, including tech startups and scaleups, nonprofits, and professional service organizations using cloud-based technology. Headquartered in Indianapolis, Indiana, mAccounting serves clients coast-to-coast with 36 employees including 17 CPAs. Visit mAccounting.com to learn more.

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Emily Goetz
inDinero
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Donna Dwyer Pitz
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