Singapore-based technology company Multiplier has acquired Oxygen Advisors, marking its sixth acquisition worldwide.
Oxygen Advisors is a New Zealand accounting and advisory firm focused on startups and high-growth businesses in New Zealand and Australia. Founded in 2015 by Matt Dold, it has grown to more than 50 employees across three countries.
The firm has worked with more than 300 companies, including Tracksuit, Auror, Letterboxd, Ideally and VXT, and says it has helped clients raise more than $800 million in capital.
Multiplier has been acquiring professional services firms in several markets as it looks to use technology to modernise its operations and support expansion. Through the deal, Oxygen Advisors will gain access to Multiplier’s technology team in Silicon Valley and Singapore, along with backing from investors including Ribbit Capital and Lightspeed Ventures.
Multiplier is led by Noah Pepper, a former Stripe executive who sold his first company to Twitter. The acquisition gives the company a foothold in the New Zealand accounting and advisory market and adds a firm with a client base concentrated in the startup sector.
Management continuity
The entire Oxygen Advisors team will join Multiplier. Matt Dold will remain Director and work alongside Co-chief Executive Officers Mike Mandis and Chris Morgan.
The structure is intended to preserve continuity for customers and the broader business.
The deal comes as accounting and advisory firms face pressure to respond to advances in artificial intelligence and rising client expectations around speed and analysis. Firms serving startup clients have also had to adapt to more complex reporting, fundraising and compliance requirements across multiple markets.
Dold said the acquisition would give the firm resources to invest in its internal systems while keeping staff focused on client work.
“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 and routine work, so our people can spend more time helping customers grow.”
Expansion strategy
Multiplier targets established firms with management teams that want to keep building their businesses over time. Oxygen Advisors becomes part of that broader acquisition strategy as Multiplier assembles a group of professional services businesses across different regions.
Pepper cited Oxygen Advisors’ position among startup and high-growth clients as a key reason for the acquisition.
“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 provides outsourced chief financial officer services, bookkeeping and financial operations, tax and compliance work, revenue operations, and management of research and development grants and tax credits. Its customer base spans businesses at different stages of growth across Australasia.
The acquisition reflects continued interest from technology-backed buyers in professional services firms with specialist client niches and recurring advisory income. For firms serving the startup market, scale and investment in software are increasingly becoming part of the competitive landscape.
Oxygen Advisors says 97% of the startups it supports succeed.
