Autobooks, a Detroit, MI-based small business payment and accounting services platform, raised $25m in Series B financing.
The round was led by MissionOG with participation from Renaissance Venture Capital, Detroit Venture Partners and Draper Triangle, along with TD Bank Group.
The company intends to use the funds to continue to expand operations domestically, as well as enter international markets, accelerate product innovation, further engage with large, enterprise banks and grow its team.
Led by Steve Robert, CEO, Autobooks enables small businesses to send digital invoices and accept online payments directly from their financial institution’s existing online and mobile banking channels.
Through the system, financial institutions can provide essential back office services, providing a small business Ecommerce platform directly embedded within their existing digital banking channels.