PIA Group acquires Cashaca to make digital accounting more personalized

Ghent, 29 August 2024 – PIA Group, the fastest-growing accountancy and advisory group in Belgium and the Netherlands, is the first in the industry to acquire an accounting platform. Cashaca focuses on startups and sole proprietors and will become an integral part of PIA Group's comprehensive accounting services. With its rapidly expanding network of local offices, PIA Group is enhancing the quality and personalization of digital accounting for startups and sole proprietors.

In its quest to better serve startups and sole proprietors, PIA Group decided to acquire and fully integrate the accounting platform Cashaca into its services. Cashaca, based in Antwerp, offers an accounting application that enables self-employed individuals to manage their own bookkeeping, even without prior experience.

By integrating Cashaca into its services, PIA Group increases efficiency across the organization. This allows staff in local offices to focus more on their core tasks of accounting and advisory services, delivering the close, customer-focused guidance that PIA Group is known for.

With the acquisition of Cashaca, PIA Group also brings in AI expertise. This, combined with increased efficiency, will eventually allow for more proactive advice across its entire client base, which includes SMEs and larger enterprises.

“We want to support startups and sole proprietors from the very beginning, offering advice and answering their questions,” says Steven Brouckaert, Executive Chairman of PIA Group. "We know they have many concerns, from choosing the right business structure to understanding their net income and deductible expenses. Their digital experience with Cashaca's accounting services will be complemented by the personalized, high-quality advice of a PIA accountant and advisor, available both online and in person at one of our many local offices.”

Many accountants have stopped taking on new clients, forcing startups and sole proprietors to turn to online platforms like Cashaca. Nathalie Calle, CEO of PIA Group Belgium, sees this as an opportunity: “Startups and sole proprietors are the seeds of our economy. Many of them will grow into the SMEs of tomorrow. As accountants and advisors, we have a significant economic responsibility. Our guidance and advice are crucial to the success of entrepreneurs. That's why PIA Group has never turned away clients. We believe that startups and sole proprietors deserve guaranteed quality, and we're excited to offer this by integrating Cashaca with the personalized support of a PIA advisor.”

Cashaca founder Peter Loomans will stay on board after the acquisition. He will become a partner at PIA Group and take on a strategic role within the digital expertise team. PIA Group aims to quintuple Cashaca’s annual revenue within three years, highlighting the group’s broader growth ambitions. In 2019, PIA Group achieved consolidated revenue of 25 million euros with 200 employees. Today, the group has 1,700 employees and is on track to generate consolidated revenue of over 250 million euros by the end of 2024.

In a market driven by consolidation, PIA Group aims to grow into a leading player in accountancy and advisory services, while maintaining a strong personal connection between our staff and clients. We focus on growth by continually expanding our network of entrepreneurial partners. Through the collaboration between these partners and our expert teams, entrepreneurs at every PIA office receive personalized, up-to-date service and expertise that truly contributes to their professional success and personal happiness. PIA Group was founded in Belgium in 2012 by Steven Brouckaert. The group operates in Belgium and the Netherlands, with over 60 offices and nearly 1,700 employees, and is on track to generate over 250 million euros in revenue across both countries by the end of 2024.

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