Employer.com buys Canadian fintech Bench Accounting for undisclosed sum
Bench Accounting, a Canada-based fintech firm providing bookkeeping services and financial solutions tailored for small and medium-sized enterprises (SMEs), has been acquired by San Francisco-headquartered start-up Employer.com for an undisclosed sum.
Bench Accounting acquired by Employer.com
Founded in 2012, Bench provides a suite of SME-focused bookkeeping, tax filing, and advisory services via its software-as-a-service (SaaS) platform.
Employer.com, specialising in payroll and workforce management services, plans to integrate Bench’s tax and accounting capabilities into its broader suite of solutions.
The acquisition news, announced on 30 December, comes just days after Bench issued a notice on its website that it was set to close down, writing at the time: “We regret to inform you that as of December 27, 2024, the Bench platform will no longer be accessible”. With the acquisition, the company’s website is now fully operational once more.
Announcing the deal, Bench says: “Despite recent headlines concerning Bench’s decision to suspend operations on December 28, we are pleased to reassure Bench customers that Employer.com has been working diligently behind the scenes to ensure a seamless transition.”
The company adds that there will be “continuity of service”, with current Bench customers continuing to work with the “same expert in-house bookkeepers they know and trust” and retaining full access to its platform.
