A New Zealand finance and advisory firm founded in 2015 to help startups grow has been acquired by one of the rising Asian stars of the sector.
Oxygen Advisors is its sixth global acquisition by by Singapore-based Multiplier. The terms of the deal were not disclosed.
Multiplier is a compliance and payroll platform for distributed teams. It was founded by former Stripe exec Noah Pepper, who sold his first company to Twitter.
Oxygen, founded by Matt Dold, has more than 50 employees in three countries. It offers outsourced CFO services, bookkeeping and financial operations, tax and compliance, revenue operations, and R&D grants and tax credits management and as worked with more than 300 startups and high-growth companies, helping them raise more than $800 million in capital. The client list includes Tracksuit, Auror, Letterboxd, Ideally and VXT.
The full Oxygen Advisors team is joining Multiplier and Dold will continue as director.
“Oxygen Advisors has built an exceptional business with a strong reputation among high-growth companies,” Pepper, Multiplier’s CEO, said.
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“We look for firms like this where we can partner with stellar management teams who want to continue to build their business over the long run – and technology can amplify what’s already working. With Oxygen Advisors, we see a clear opportunity to accelerate growth.”
Dold said the merger also gives Oxygen access to Multiplier’s Silicon Valley and Singapore-based technology team and the backing of VCs including Ribbit Capital and Lightspeed Ventures.
“The professional services industry is being reshaped by AI and there are increasing expectations for speed and insight,” Dold said.
“With Multiplier’s long-term backing we will invest in custom-built technology that automates manual or routine work, so our people can spend more time helping customers grow.”
