Beanworks Raises $5 Million

Fintech startup Beanworks announced it has raised $5 million in Series A financing. Three investors participated in the round, among them Vancouver Founder Fund and TIMIA Capital.

Beanworks automates accounting workflow to empower teams to succeed. From purchase order to electronic payment, Beanworks integrates with users’ software to make AP simple and easy. The company says it serves thousands of users, helping them manage accounts payable at a fraction of traditional processing costs while remaining focused on financial management and reporting.

The company revealed that it will use the funding to scale its operations.