Receipt bank the award winning receipt processing and book keeping platform that automates the book keeping process has raised further funding from Insight Venture Partners which it will use to fund further product development and accelerate the growth of the company. The company will now be channeling further investment into its patent pending technologies. In all the current $50 million brings the total investment in receipt bank to $65 million
Receipt bank uses AI technology to automate data capture and collection which many small and medium sized businesses have found tedious and time consuming. Since its formation in 2010 it was the first company to be able to automate the capture and extraction of data from receipts and invoices using a variety of collection methods.
It now delivers automation for over 5,000 accountancy practices worldwide and helps to streamline the book keeping of over 100,000 of their smasll business clients across its core markets in Europe, North America and Australia.
Receipt Bank CEO, Alexis Prenn, said “”
Brad Twohig, managing director of Insight Venture Partners, commented that ”
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