Singapore-based tech company Multiplier has acquired Oxygen Advisors. This is its sixth acquisition globally.
Oxygen Advisors is an accounting and advisory firm from New Zealand. It mainly works with startups and fast-growing companies in New Zealand and Australia. The company was founded in 2015 and now has over 50 employees in three countries.
The firm has worked with more than 300 companies, including well-known names like Tracksuit, Auror, Letterboxd, Ideally, and VXT. It has also helped its clients raise over $800 million in funding.
Multiplier has been buying professional services firms in different markets to improve its operations using technology and expand its business. With this deal, Oxygen Advisors will gain access to Multiplier’s tech teams in Silicon Valley and Singapore, as well as support from investors such as Ribbit Capital and Lightspeed Ventures.
Noah Pepper, a former Stripe executive, leads multiplier. This acquisition helps the company enter the New Zealand accounting and advisory market and adds a strong startup-focused client base to its business.
“Oxygen Advisors has built an exceptional business with a strong reputation among high-growth companies,” Pepper said. “We look for firms like this where we can partner with stellar management teams who want to continue building their business over the long run, and where technology can amplify what’s already working. With Oxygen Advisors, we see a clear opportunity to accelerate growth and find even more ways to delight clients.”
Oxygen Advisors offers services such as outsourced CFO support, bookkeeping, financial management, tax and compliance, revenue operations, and research and development grant and tax credit management. It works with businesses at different stages across Australia and New Zealand.
This acquisition shows that tech-driven companies are increasingly interested in buying professional services firms that have specialized clients and steady income from advisory services.
For firms that work with startups, growing and investing in technology are becoming increasingly important to stay competitive.
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