Accountancy firm expands with practice takeover

An accountancy and business advisory firm has bolstered its portfolio with a takeover.

Xeinadin has bought Accountancy Cloud.

Officials say the move for the London-based practice will “strengthen Xeinadin’s ability to support high-growth, founder-led businesses”.

Founded in 2014, Accountancy Cloud supports venture-backed businesses from pre-seed to Series B across the UK, with its 25-strong team providing services in areas such as outsourced finance and research and development tax credits.

Under the terms of the takeover, co-founders Wes Rashid and Asima Hafesji will remain in leadership roles, with Accountancy Cloud staff switching to Xeinadin’s London West End office.

Derry Crowley, Xeinadin chief executive, said: “Accountancy Cloud brings a deep understanding of the start-up space and the pressure behind every decision founders face.

“By joining forces, we can help more founders find the clarity in their convictions, expert advice and specialist support they need to scale their business.”

Wes added: “Our clients were scaling faster and needed broader support without losing the founder-first approach that defines us.

“Joining Xeinadin gives us that firepower.”

The deal comes just days after Xeinadin added TBL Accountants to its Southend office, which bosses said will “bring further strength to its support for small, owner-managed businesses and charities in Essex.”

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