Receipt Bank, a global bookkeeping automation software company, raised $10m in growth capital.
Kennet Partners, an international growth equity firm that invests in high-growth companies in Europe and North America, made the investment.
The company will use the funds to further improve its technology and expand operations.
Launched in February 2011 and led by Alexis Prenn, CEO, Receipt Bank provides automation software to accounting and bookkeeping firms and their small business clients. Today, the company’s solutions are used by thousands of accounting firms to enable bookkeeping of tens of thousands of small businesses and, on their behalf, processes millions of transactions each month.
It now has five offices on three continents including Washington DC, Toronto, Sydney & London.