Singapore’s Multiplier Raises $35 Million Series B To Build A New Model For Professional Services

Singapore-based technology company, Multiplier, has closed a $35 million Series B funding round as it continues to acquire specialised professional-services firms and embed AI tools into their operations.

The round was led by The General Partnership, with participation from Ribbit Capital and Lightspeed Venture Partners.

A former Slack CFO joins the leadership team

Alongside the funding, Multiplier has appointed Allen Shim as President and Chief Financial Officer. Shim previously served as Chief Financial Officer at Slack, where he helped take the company public and remained through its acquisition by Salesforce.

At Multiplier, Shim will oversee finance, operations, partnerships and people, and will help build out the company’s San Francisco office.

Acquiring firms, not replacing them

Multiplier’s model centres on acquiring established professional-services firms – particularly in accounting and adjacent fields – that hold specialised expertise and established client relationships. Rather than folding those businesses into a single brand, the acquired firms retain their names, leadership and operating independence.

The professionals responsible for client relationships share in the value they help create, and firm founders are expected to continue leading their businesses after an acquisition.

Multiplier describes itself as a permanent holding company rather than a short-term acquisition vehicle. It provides capital, shared infrastructure, recruiting support and access to a broader network that individual boutique firms would struggle to build on their own.

Building AI from the inside

Where Multiplier diverges from typical enterprise software vendors is in how it deploys technology. Rather than selling tools to outside firms, the company embeds a team of more than 30 technologists – recruited from established software companies – directly inside the firms it owns.

Those teams work alongside practitioners to identify where AI can reduce manual and administrative work, expand capacity and improve client service. Because Multiplier owns the firms, its technology teams have direct access to workflows, data and the institutional trust needed to implement tools around how the work is actually done.

The company argues this approach addresses many of the adoption barriers that have historically limited software use in professional services.

Founder and CEO of Multiplier, Noah Pepper, emphasised that the model is deliberately designed to keep professionals at the centre of the work.

“An AI’s answer is worth zero until a professional puts their name on it,” Pepper explained. “We’re not trying to remove experts from the work. We’re giving firms AI muscle while keeping their human heart, providing them with better tools, more time for judgment and the capacity to serve more clients without lowering the bar on quality or trust.”

Scaling a capacity-constrained market

Professional-services firms have historically been difficult to scale because growth depends on the time and availability of experienced practitioners. Many also operate with fragmented information spread across documents, financial statements and email.

Advances in AI have made it possible to automate more of the preparatory and administrative work that occupies those practitioners, while keeping them responsible for final advice and client relationships. Multiplier’s aim is to expand the number of clients professionals can serve, rather than reduce headcount.

Partner at The General Partnership, Anthony Kline, described the opportunity as a function of constrained expert capacity in a large market.

“Accounting is a large, durable market that has long been constrained by expert capacity,” Kline observed. “Multiplier is not trying to replace the professionals clients trust. It is building technology into the firms themselves so those professionals can serve more clients, respond faster and spend more time on work that requires judgment.”

Kline added that Pepper’s background made him well suited to the task.

“Noah has the operating experience and long-term approach needed to build this model at scale,” he remarked.

Growth and next steps

Multiplier has acquired eight firms to date, including five in the past year, and has four additional firms under signed term sheets. Its network currently serves clients across more than 10 countries, and firms within the network have begun referring clients and opportunities to one another.

Founders and leadership teams remain with their firms following an acquisition.

The new funding will be used to acquire additional firms and expand Multiplier’s technology and operating teams.

Pepper previously served as an executive at Stripe, where he built and led the payments company’s Asia-Pacific business. More information is available at multiplierholdings.com.

Last Updated on August 8, 2026 by Nick Ross