Online accountancy software gets €3.4m backing

AccountsIQ, the online accountancy software company, has secured €3.4m (£3m)
funding from investors to expand the business.

Data Electronics Group (DEG) has joined the investment table alongside AIB
Seed Capital Fund and others, which will allow accountsIQ to continue its market
expansion and product development.

DEG, as part of the investment package, will provide a service continuity
guarantee effectively underwriting the product in the unlikely event the company

A spokesman for accountsIQ said: “We believe this is a unique safeguard in
the cloud computing arena.”

“DEG recognise the very rapid trend towards delivering secure solutions over
the internet. This trend will mean increasing numbers of businesses moving their
services into the cloud, facilitating the delivery of real time services such as
accounting,” he added.

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