KNAV scouts for acquisitions as accounting consolidation wave grows

KNAV is a company that helps other businesses with their money, taxes and audits, like a very smart accountant for companies.

It started in India and now works in about seven different countries.

KNAV wants to grow even bigger, so it is looking to buy other accounting companies in North America and Europe.

To pay for this, it got new money from an investment group called NKSquared, led by a famous Indian investor named Nikhil Kamath.

Many accounting companies around the world are joining together to become bigger firms.

Bigger firms can offer more services, like checking a company's computer systems and giving technology advice.

The article says smaller accounting firms may struggle because clients want one firm that can do everything.

KNAV thinks it can compete with the biggest accounting firms and wants to earn $100 million in revenue, up from $55 million today.

KNAV also built its own special AI tool called KNAV Tara to help its workers.