Uniqus Consultech raises $12.5 million in Series A funding

9 Dec 2022 , 03:29 PM

Uniqus Consultech, formed by Jamil Khatri, former KPMG global accounting advisory head, and Sandip Khetan, former head of financial accounting advisory services at EY India, commenced operations with a focus on ESG and accounting and reporting consulting and raised $12.5 million in series A funding.

The company has employed about 50 new employees and plans to triple its size by the end of 2023, with a $100 million revenue target for the next five years.

In order to draw in top talent, Uniqus also provides equity stock pool options to its employees. The company wants to invest the capital raised in technology and scaling up business across India, the US, and the Middle East.

In order to avoid conflicts over the independence of auditors, the firm has opted to avoid the auditing business. "A very significant request of corporations is the ability to advise clients independently without getting bogged down by auditor conflicts. Therefore, we are taking precautions to avoid getting caught in a fight, Khatri remarked.

Since consulting is their primary industry, Uniqus is unconcerned about the Big Four's market dominance in audit and accounting.