SME payment and accounting firm Autobooks raises USD 25 million

The round also includes participation from other investors including Renaissance Venture Capital, Detroit Venture Partners and Draper Triangle, along with TD Bank Group.

Autobooks helps small businesses to send digital invoices and accept online payments directly from their financial institution's existing online and mobile banking channels. The fintech works directly with banks and credit unions to unlock potential within small and micro-businesses.

The company has developed partnerships with the industry’s internet banking providers to ensure turn-key deployments.

The proceeds from this round of funding will allow Autobooks to continue to expand operations domestically, as well as enter international markets, work on product innovation, and grow its team with a key focus on product development and customer success.