Fintech Startup Receipt Bank Secures $50 Million

Receipt Bank announced the completion of $50 million in Series B financing from Insight Venture Partners.

Receipt Bank revolutionizes accounting for small business through its technology that automates the bookkeeping process, with the goal of building more valuable accountant-client relationships. The company’s award-winning AI and automation technologies are used by more than 5,000 accounting and bookkeeping firms and tens of thousands of small business customers globally.

In its announcement, the company said the investment will be used to accelerate the growth of the company and to continue development of its products.