LeaseCrunch merges with data analysis firm

Lease accounting solutions provider LeaseCrunch is merging with Finagraph, the company behind Strongbox, which automates financial data collection and analysis for CPA firms.

The strategic merger expands the combined company's reach to a global CPA firm customer base of over 750. Prior to the merger LeaseCrunch boasted 650 CPA firm customers.

"This merger brings together LeaseCrunch's lease accounting expertise and Finagraph's advanced data extraction and analysis solutions," said LeaseCrunch CEO Mark Weidick in an email. "Together, we empower CPA firms to automate time-consuming tasks, enhance efficiency, and deliver greater strategic value to their clients. This also enables us to provide our customers with even more tools to streamline workflows and operations."

The move is legally a merger, although LeaseCrunch is leading the investment and driving the process to combine the strengths of both companies. The current plan, according to Weidick, is to brand Finagraph and its flagship product, Strongbox, as "powered by LeaseCrunch." However, future branding decisions will be made as part of the company's long-term strategy to best serve its clients' needs.

"We're thrilled to join forces with LeaseCrunch," said Finagraph founder and CEO James Walter in a statement. "Together we're enhancing the productivity of CPA firms by streamlining workflows, equipping them with real-time financial intelligence and delivering precise data for critical decisions."

By combining Finagraph and LeaseCrunch, CPA firms will have access to tools for collecting and extracting financial data from their clients. By uniting their expertise, the two companies are expanding their capabilities across audit, financial due diligence and client accounting services.

"The merger aligns with our mission to empower CPA firms with solutions that enhance client engagement, increase operational efficiency and enable firms to better serve clients," said Wedick. "By expanding our tools, we are addressing critical needs across audit, financial due diligence, and client accounting services, paving the way for continued growth."

The merger comes about half a year after LeaseCrunch announced in June it was expanding its leadership team with Wedick as the new CEO, plus Jessica Hamilton as chief financial officer and Miguel Perez as chief product officer. In January LeaseCrunch announced a major growth investment from Aquiline Capital Partners for an undisclosed amount.