Our technology is transforming bookkeeping
The Receipt Bank Group has been revolutionising accounting for small business since we were founded in 2010.
We began life as the first software company to automate the collection and data extraction of receipts and invoices.
Today, we provide technology that unlocks the value of accounting data, automates the bookkeeping process and helps build more valuable accountant-client relationships.
Our award-winning AI and automation technologies are used by over 5,000 accounting & bookkeeping firms and tens of thousands of small business customers globally, who in turn benefit from cost savings, effortless bookkeeping, and real-time accounting.
Backed by Insight Venture Partners and Kennet Partners, adopted by hundreds of new firms every month and growing 100%+ year on year, Receipt Bank is transforming bookkeeping.
- Receipt Bank was selected as one the UK’s “Future Fifty” technology companies joining the likes of Box, TransferWise and JustEat.
- We celebrated our 6th consecutive year of 100%+ p/a growth.
- Our series B funding round raised $50m of investment from Insight Venture Partners to accelerate growth and develop further products.
- Receipt Bank raised $10m in Series A funding from Kennet Partners to invest in expansion and product development.
- We launched our 1Tap Receipts app for sole traders, which rapidly became the market leading, sole trader bookkeeping app.
- The Group passed $10m in Annual Recurring Revenue (ARR).
- Our Practice Platform product was launched to provide accounting and bookkeeping firms with tools and metrics to manage the increasing automation within their firms.
- Receipt Bank won its first national technology award in North America.
- Global expansion continued with the opening of our office in Washington DC.
- The first accounting transactions started passing through our system without any need for human verification as a results of our AI & ML innovations.
- Receipt Bank was being used by accountants and bookkeepers in more than ten countries.
- We opened an office in Sydney, Australia and started work on our proprietary bookkeeping artificial intelligence (AI) and machine learning (ML) technology.
- The first of the Big Four accountancy firms adopted our service.
- Receipt Bank won its first award in Australia.
- We continued expanding our service to allow our customers to intelligently categorise cost transactions to either expense reports or charts of accounts.
- Receipt Bank won its first award and the service continued to grow exponentially.
- Receipt Bank launched the world’s first service to automate the collection and data extraction of receipts and expenses for accountants and their small business clients.
- Our service was expanded to automate the collection and data extraction of invoices and accounts payable - another world first.
- Receipt Bank proved a big hit with accountants and bookkeepers, instantly becoming a significant business.
- Receipt Bank was founded in London to provide cutting edge automation technology to accountants and bookkeepers.