Rix Group sells Accountabl to AI specialist

A Hull-based expenses management software company has been sold to a Nasdaq-listed AI specialist. 

Rix Group has divested Accountabl to Swedish fintech company Done.ai, in a deal involving both a cash sum and a shareholding in the buyer.

Bosses say Rix Group plan to shift their focus to its primary sectors of property, leisure and energy, while continuing to support the transition of Accountabl’s operations over the next six months. 

Harry Rix, director of the Rix Group and founder of Accountabl, said: “This is a very exciting development for Accountabl.

“Done.ai, previously 24SevenOffice, is known for its distribution to Enterprise Resource Planning (ERP) providers and its AI-first approach to building cutting-edge software solutions. 

“The company already has comprehensive plans to enhance and expand the platform with advanced automation capabilities to drive efficiencies and improved functionality.

“We believe this transition will enable Accountabl to thrive under the leadership of Done.ai, as the company has the expertise and focus to ensure it realises its full potential.”

Harry added that by taking a shareholding in Done.ai, the Rix Group will have access to cutting-edge innovation and technical expertise that will drive value for the wider business.

He said: “We see this partnership as a positive step for both parties.

“Our ongoing relationship with Done.ai will allow us to benefit from their expertise in AI while continuing to focus on our primary industries.”

Done.ai will continue to operate Accountabl in the UK, though will expand the software’s reach, including new distribution in Nordic markets. 

The acquisition also aims to integrate with ERP systems for enhanced functionality.

Staffan Herbst, chief executive of Done.ai, added: “Accountabl has built an impressive foundation, and we see significant potential to take it further.

“Our focus is on combining cutting-edge AI with deep ERP integration to create smarter, more scalable tools that genuinely support our customers’ evolving financial operations.

“We look forward to building on what’s already working and innovating in the areas that matter most.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.