Autobooks, a Detroit, MI-based fintech startup, raised $10M in Series A1 funding.
Backers included Draper Triangle, Baird Capital, Detroit Venture Partners, Invest Michigan and CU Solutions Group.
The company intends to use the funds to increase its hiring efforts.
Led by Steve Robert, co-founder and CEO, Autobooks provides an integrated receivables and cash-management platform for banks and credit unions to bundle comprehensive business services – including invoicing, payments, and accounting – and offer them to small business’ clients in order to allow them to better manage cash flow and automate administratively burdensome bookkeeping tasks.
The company also has a presence in Austin, TX.