8 years ago

Receipt Bank Secures $50 Million in Series B Funding Led by Insight Venture Partners

  • Receipt Bank, a UK-based bookkeeping automation platform, raised US$50 million in Series B funding from Insight Venture Partners

  • The investment brings the company's total funding to US$65 million

  • Receipt Bank will use the funds to accelerate its growth and further develop its patent-pending technologies

  • The company provides small businesses with an AI-powered platform to automate the collection and data extraction of receipts and invoices

  • They work with accountants and bookkeepers across North America, EMEA and Australia.

      • ProblemTechnology

      "Small businesses struggle to manage their bookkeeping, spending countless hours manually collecting, entering, and categorizing receipts and invoices."

      Solution

      "Receipt Bank automates this process using AI technology. It allows businesses to capture receipts and invoices through their mobile devices, automatically extracting key data and syncing it with their accounting software. This saves small businesses time and money, allowing them to focus on growing their business."

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