According to TechCrunch, Stampli turns each bill into a communications hub, connecting the people in finance to other stakeholders on the purchase, including the vendor. Its system uses machine learning to recognise patterns around how the organisation allocates cost, manage approval workflows, and determine what data can be extracted from invoices.
Because Stampli’s core product focused on the context of individual transactions, it plays well with its payment product. It remains payments agnostic, letting organisations use whatever provider they’d like.
Stampli will use the new funding to sprint into scaling, aiming to double the size of the business in 2022. Thus far, Stampli has about 1,000 customers, and has managed USD 20 billion in transactions.
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