Meet the AI company retiring your CPA so he can still see you face to face this tax season
Source: Fortune ·
Numica has bought seven small accounting firms from owners ready to retire. Software does the books, and the old CPA can stay on to see clients.
From the source
Slava Orekoff spends much of his time in West Caldwell, Verona, and Montclair, N.J., talking to accountants who are ready to quit. Most of them don’t want to stop seeing clients, he says. They just want to stop running a business. “You have your server down, you have an escalation coming in, your bill didn’t go through with the vendor, you have all these problems with hiring,” Orekoff told Fortune. “Maybe they were excited when they started building their business 25 years ago or 35 years ago. After a while, the things did not excite you anymore.” Orekoff is cofounder and CEO of Numica, a New York startup that buys small accounting practices from retiring owners, keeps their staff and clients, and moves the work onto its AI software. The company announced Thursday it raised $21 million in combined equity and debt from Roosh X, the investment arm of Ukrainian tech group Roosh, and London-based Flashpoint. Orekoff said most of the money will go toward buying more firms. Numica launched…
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