Autobooks, a Troy, Michigan-based financial technology company that builds cash management tools for small business owners, closed a $5.5m Series A financing round.
The round was led by Draper Triangle, with participation from CU Solutions Group, Baird Capital, Detroit Venture Partners, and Invest Michigan.
The company intends to use the funds to expand its team and product offering while increasing distribution channels.
Led by CEO Steve Robert, Autobooks has developed payment and accounting software that integrates into online banking platforms to allow financial institutions such as banks and credit unions to add a new level of service to their small business clients, expanding beyond basic bill pay functionality, providing a tool for receivables, payables, payments and accounting – all from within their existing system.
FinSMEs
13/03/2017