What Financial Outsourcing does

Financial Outsourcing is a Denmark-based B2B professional services firm founded in 2015 by three partners — Mads Axeltoft, Søren Fly Pedersen, and Anders Axeltoft — all with prior experience at major Danish auditing firms. The company delivers outsourced finance function services to small and medium-sized businesses, bundling three core offerings: (1) Økonomifunktion (Economy Function), covering daily bookkeeping, VAT calculation and reporting, payroll administration, and financial statement preparation; (2) Sparring, an ongoing advisory engagement built around regular monthly meetings and reporting; and (3) Rådgivning, strategic financial advisory tied to business development, international expansion, and ownership transitions. The customer base spans more than 800 businesses across diverse verticals including fashion (Les Deux), sports/entertainment (Racket Club), biotech, retail, IT, dental practices, TV production (Drive Studios), and consumer goods, with a mid-market and SME bias and no disclosed vertical concentration.

The firm operates as a traditional labor-intensive services business with no proprietary technology platform disclosed; service delivery relies on credentialed staff (cand.merc.aud and cand.merc. profiles from CBS) supported by GDPR and Danish AML compliance infrastructure managed via the ComplyCloud platform, with Lærke Winckler Juel as Head of Compliance. Headquartered at Raffinaderivej 10 in Copenhagen S, the company employs more than 60 staff and reports live job postings across multiple seniority tiers, including a newly created Head of Operations & Projects role signaling organizational scaling beyond the founders. The go-to-market is sales-led and direct, relying on referrals, professional reputation, and named testimonials rather than digital channels; pricing is custom and quotes-based with no publicly disclosed fee schedule.

Since 2025, Financial Outsourcing has operated as part of Aspia Group, a Nordic provider of technology-driven accounting, payroll, tax, and advisory services with more than 3,100 specialists and over 160 offices across several European countries. The acquisition provides access to Aspia's digital platforms, broader service portfolio, and international expertise while Financial Outsourcing retains its local Danish brand and personalized advisory positioning. No AI/ML capabilities, funding rounds, or proprietary technology products are disclosed across the input material.

Name

Financial Outsourcing

Legal name

Financial Outsourcing

Website

https://financialoutsourcing.dk

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Financial Outsourcing is a Denmark-based B2B professional services firm serving 800+ SMEs with bundled outsourced bookkeeping, payroll, VAT compliance, and CFO/advisory services; founded 2015 and part of Aspia Group since 2025.

Ownership category

akta.pro rank

Product category

Outsourced Accounting and Financial Advisory Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Other Accounting Services (541219)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Outsourced Finance & CFO Services (BPAHABAE)

akta.pro secondary industry

Financial Planning & Analysis Support (Budgeting, Forecasting, Management Reporting) (BPAAAGAJ)

Keywords

• Outsourced accounting services
• Bookkeeping and payroll
• VAT reporting services
• CFO function outsourcing
• Financial advisory services

Headquarters

HQ city

Københoved

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Outsourced Accounting Services: Financial Outsourcing provides comprehensive outsourced accounting and finance function services to small and medium-sized businesses. Services include bookkeeping, payroll administration, VAT calculation and reporting, annual report preparation, and tax return filing. The company also offers CFO function outsourcing and strategic financial advisory services.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Financial Outsourcing provides outsourced accounting, bookkeeping, payroll administration, and VAT reporting services to small and medium-sized businesses in Denmark. The company bundles three core offerings — Økonomifunktion (daily accounting and finance function), Sparring (ongoing financial consultation with monthly reporting), and Rådgivning (strategic advisory during business development) — functioning as an external finance department and part-time CFO for clients. Since 2025, the firm has operated as part of Aspia Group, a Nordic provider of technology-driven accounting, payroll, tax, and advisory services.

Product overview

Financial Outsourcing is a Danish financial outsourcing company offering a bundled portfolio of three core services: (1) Økonomifunktion – the core bookkeeping and accounting service covering daily bookkeeping, VAT compliance, payroll administration, and financial statement preparation; (2) Sparring – ongoing economic consultation with monthly meetings and reporting; and (3) Rådgivning – strategic advisory during development processes. The company serves small and medium-sized businesses across diverse industries including restaurants, retail, biotech, fashion, and professional services. Since 2025, Financial Outsourcing has been part of Aspia Group, a Nordic provider of technology-driven accounting, payroll, tax, and advisory services.

Differentiator

Problem solved

Functional benefit

Products and services

• Økonomifunktion (Finance Function) Core outsourced finance function covering daily bookkeeping, VAT calculation and reporting, financial statement preparation, and payroll administration for small and medium-sized businesses. Functions as the client's external accounting department.
• Sparring (Advisory Sparring) Ongoing economic consultation service providing regular monthly meetings and reporting to support strategic decision-making for SME clients. Pairs day-to-day finance function with forward-looking business guidance.
• Rådgivning (Financial Advisory) Strategic financial advisory provided in connection with business development processes, helping clients optimize existing processes and operations during growth, transactions, and structural changes.

Quantifiable outcome

• Serves over 800 companies
• +1 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Aspia GroupcoreOthers · 1 January 2025Since 2025, Financial Outsourcing has been part of Aspia Group - a leading Nordic provider of technology-driven services within accounting, payroll, tax, and advisory. Aspia Group has more than 3,100 specialists and over 160 offices across several European countries. This acquisition provides Financial Outsourcing with access to digital platforms, broader service offerings, international expertise, and the latest technology while maintaining their local proximity and personalized advisory services.

Scale indicators4 records

Recent moves2 records

Expansion highlights5 records

Broad incumbents

• Aspia Group: Parent company since 2025 and leading Nordic provider of technology-driven accounting, payroll, tax, and advisory services with 3,100+ specialists. Direct overlap with FO's outsourced finance, payroll, and CFO offerings, but at significantly greater scale and geographic reach.
• BDO Denmark: Major global accounting and advisory network with a full-service Denmark office offering bookkeeping, payroll, tax, and outsourced CFO services to SMEs — directly overlapping with FO's value proposition at a larger brand and scale.
• PwC Denmark: Big Four firm with a Denmark practice delivering audit, tax, and managed accounting/CFO services to mid-market and enterprise. Competes for the same Danish CFO-function outsourcing engagements at the upper end of FO's segment.
• Deloitte Denmark: Big Four firm providing outsourced finance, tax, and advisory services in Denmark, including CFO-as-a-service offerings. Comparable in advisory/CFO function, but serving a larger enterprise client base.

Direct peers

• Azets: Nordic-headquartered accounting, payroll, and advisory BPO serving SMEs and mid-market across Scandinavia and the UK. Closely comparable in service mix (bookkeeping, payroll, CFO advisory) and customer segment to Financial Outsourcing.
• Accountor Group: Nordic accounting and payroll outsourcing group serving SMEs across Finland, Sweden, Norway, and Denmark. Closely comparable business model — bundled bookkeeping, payroll, and advisory services delivered via local offices.

Emerging players

• Fortnox: Swedish cloud accounting platform serving SMEs with bookkeeping, invoicing, and payroll automation. Competes at the technology layer that threatens traditional outsourced accounting services like FO.
• Visma e-conomic: Leading Danish cloud accounting SaaS used by SMEs and their accountants. Represents the software-first competitive vector that could compress demand for FO's manual outsourced bookkeeping.
• Billy ApS: Danish SMB-focused accounting and invoicing SaaS that automates bookkeeping tasks traditionally done by outsourced service providers. Indirect competitor for FO's core SME bookkeeping client base.

Others

• Dynamicweb (Visma): Visma's Danish footprint bundles accounting software, payroll, and HR for Nordic SMEs. Provides the broader Visma ecosystem context — part platform, part outsourced services — under which FO competes for Danish SME wallet share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/financialoutsourcing
• Instagraminstagram.com/financial.outsourcing
• Facebookfacebook.com/financialoutsourcing

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Financial Outsourcing