What does Autobooks do?
Autobooks is a financial technology company based in Detroit that provides invoicing, digital payment acceptance, and accounting solutions for small businesses, all integrated into online and mobile banking platforms. Its solutions enable banks and credit unions to deliver innovative financial services to business customers.
How much did they raise?
The company raised $40M in a funding round led by Runway Growth Capital. Although the round is classified as series_unknown, the investment underscores strong investor confidence in the company’s growth strategy.
What are their plans for the money?
Autobooks plans to use the funds to drive further expansion by enhancing its digital banking infrastructure and integrating new solutions through strategic acquisitions, such as the recent acquisition of Allied Payment Network. This move is expected to fortify its position as a key player in financial technology for small businesses.
What have they achieved so far?
Autobooks has demonstrated progress by successfully completing the acquisition of Allied Payment Network, which has expanded its capabilities in offering integrated flexible payment solutions to financial institutions nationwide.
