Receipt Bank
Receipt Bank, the award-winning bookkeeping automation platform has raised $50 million in Series B funding from Insight Venture Partners. The investment will be used to accelerate the growth of the company and further develop its products.
Receipt Bank automates a range of bookkeeping processes for more than 5,000 accounting and bookkeeping firms and over 100,000 of their small business clients.
This most recent round of investment brings the total amount of funding raised by Receipt Bank to $65million.
Intuit, Stella & Dot
Stella & Dot, a global fashion accessories brand and social selling company, has agreed to work with Intuit on helping S&D Independent Business Owners in the U.S. and Canada manage their finances and tax obligations via Intuit's QuickBooks Self-Employed program. The agreement also applies to KEEP Collective, a Stella & Dot sister brand for personalized accessories.
QuickBooks Self-Employed is geared toward our growing mobile society that has found that the best way to make money is to set up some type of "gig" for themselves. Everything from internet sales to Uber driving, and anything in between is becoming the realm of the "self-employed." Intuit's QBSE is designed to make it easy, almost effortless, to record revenues, capture expenses and prepare your information for quarterly and annual tax returns.
I predict that Intuit will be teaming up with a lot of other ventures offering business opportunities to these on-the-go/on-the-grow self-employed individuals.
Practice Ignition
Practice Ignition is an online practice automation tool for accounting firms providing engagement letters, process and compliance tools, scope management, automated payment capabilities, and more. Now it is looking toward expanding its offering into the bookkeeping arena.
Recently, Brendan Allen was made head of bookkeeping with the intent of configuring tools and processes to assist bookkeeping practices in the same way it has assisted accountants.
As part of this expansion, Practice Ignition recently secured a $5-million capital injection from Australian venture capital funds and individual investors.
Editor's Note: Sorry folks for the delay on this news. This was supposed to have been displayed early in the day on July 21, but due to some technical difficulties with our site (Metropublishing), we couldn't get it to publish.