Receipt Bank raises $10m from Kennet

The fresh capital will be used to expand the company's geographical reach, and further develop the product. 

Company
London-based Receipt Bank has developed software to automate accounting and bookkeeping. Its technology includes data extraction from receipts, bills and invoices, designed to enable faster and cheaper processing for bookkeeping.

The company was founded in 2011 and now operates out of offices in London, Washington DC, Sydney and Toronto.

People
Receipt Bank – Alexis Prenn (CEO).
Kennet Partners – Hillel Zidel (managing director).

Advisers
Company – Capital SCF (Financial due diligence); Cooley (Legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Kennet Partners