Employer.com, a human resources firm, bought Bench Accounting days after the fintech’s shutdown.
Employer.com said in a press release that the acquisition reflects a commitment to expanding its portfolio of services and adding value to small business owners. Financial terms were not disclosed.
The deal closed on Jan. 1 on the heels of Bench’s Dec. 28 decision to suspend operations. Employer.com said the deal means that the fintech’s customers will continue to work with the same in-house bookkeepers and that all customer data remains intact, secure and protected.
“Bench has always been a trusted partner to small businesses, and we are excited to build on that legacy,” Jesse Tinsley, Employer.com’s CEO, said in the release.
“While the challenges Bench recently faced were unexpected, we recognized an extraordinary opportunity to integrate their capabilities into our own suite of solutions,” Tinsley added. “By combining forces, we can create even more value for Bench’s loyal customers while extending the reach and impact of Employer.com’s offerings.”