Numica Raised $21 Million to Buy Retiring Accounting Firms. What New York CPAs and Their Clients Should Know
The New York startup announced $21 million in combined equity and debt to acquire small accounting practices from owners heading into retirement, then run the books on its own AI platform. Here is what firm owners and their small-business clients should take from the deal.
NEW YORK — A New York company that buys small accounting firms from owners who are ready to stop running them has raised the money to do it faster. On Nov. 5, Numica announced $21 million in combined equity and debt from Roosh X, the investment arm of Roosh Investment Group, and London-based Flashpoint Capital. Co-founder and CEO Slava Orekoff told Fortune that most of the capital will go toward buying more firms.
Numica buys practices from owners approaching retirement, keeps the staff and clients, and moves the day-to-day work onto software the company built itself. The announcement published with Flashpoint describes that software as a general ledger and bookkeeping engine with practice management, billing and tax filing layered on top. A CPA still reviews and signs the finished work.
What the Company Says It Has Done So Far
Numica launched in June 2025 and, as of Nov. 5, had bought seven practices serving about 6,000 clients in New York, New Jersey, Florida, Texas and California, including restaurants, salons and dental practices. Fortune reported it closed its latest deal on Nov. 3 and expected another the following week.
It targets firms with $700,000 to $5 million in annual revenue, a size Numica says is usually too small to attract traditional buyers. From the first day after a deal closes, Numica takes over billing, hiring and technical systems. The accountants clients already know stay in place. Owners can remain part-time for up to four years, and Orekoff told Fortune most sellers choose that option.
The company said margins at its first New York practice rose from 37 percent to 52 percent within two months and are projected to reach 70 percent, figures we could not independently audit.
Why the Timing Matters in New York
Orekoff told Fortune that roughly half of the country’s estimated 87,000 small accounting firms are owned by baby-boomer CPAs or enrolled agents who will retire within five to seven years. In its announcement, Numica separately cited the American Institute of CPAs for a broader figure: roughly 75 percent of CPAs are set to retire within 15 years. Fortune also reported that U.S. schools awarded 55,152 bachelor’s and master’s degrees in accounting in the 2023–24 school year, down 6.6 percent from the year before, according to the AICPA.
If the person who has done your books for 20 years retires without a buyer, you are hunting for a new firm in tax season. Numica’s pitch is that it will buy practices larger buyers skip. Ilja Velickis, an associate partner at Flashpoint Growth Debt, said Flashpoint first backed Numica as an equity investor and that the new growth-debt facility “gives the company a flexible capital structure and additional firepower to accelerate its acquisition strategy.”
Orekoff put the operating idea more bluntly in the same release: “The model is simple: we acquire a profitable business and make it more profitable.”
What the AI Actually Does
Orekoff told Fortune the software codes transactions, builds the profit-and-loss statement and balance sheet, and prepares state, federal, sales and payroll tax filings. He said it covered about 75 percent of the acquired firms’ workflows in its first year. Accountants check the output, handle unusual cases and talk to clients.
Clients are told when their firm is sold. Fortune reported that many states require client consent, and that consent letters went out two hours after the most recent deal closed. Clients are generally not told that AI is doing much of the work. “Do you care if a calculator or Excel was used to make calculations?” Orekoff asked. He allowed that some clients might leave over it.
That disclosure gap is the part New York business owners should not gloss over. If your CPA sells, ask who now owns the firm, who reviews your return, whether software is preparing the work, and what happens to your files if you walk away. You do not have to accept a new arrangement just because a consent letter arrived.
A Seller’s Checklist, and a Client’s
If you own a New York practice in Numica’s size range, the questions are practical. What is the multiple? How long would you stay? Who employs your staff the day after closing, and at what pay? How is client consent handled in New York? Who carries the professional-liability insurance? Get those answers in writing, and have your own lawyer read the deal. We have not seen Numica’s form purchase agreement.
If you are a client, treat a sale notice as the start of due diligence. Ask whether your regular accountant is staying and who signs your returns. If you are uncomfortable with AI-prepared work you were not told about, you can switch firms. Tax season is when that conversation is hardest, which is why it is better to have it as soon as a letter arrives.
The raise does not mean every neighborhood CPA shop is about to be bought. It does mean a well-funded New York buyer is looking at firms too small for a conventional private-equity roll-up. For owners who want to stop running the back office without abandoning their clients, that is a new option. For the businesses those firms serve, it is a reminder to know who is actually doing the books.
Entrepreneurs Of New York is an independent publication and is not affiliated with Numica, Roosh X or Flashpoint Capital.