Receipt Bank Raises $73 Million

Debt and equity infusion to be used for expansion and product development.

By CPA Trendlines Research

London-based Receipt Bank, which fields machine-learning software that fetches financial information from multiple sources, digitizing and categorizing it for more than 50,000 accountants and bookkeepers, has raised $73 million in debt and equity financing for product development and market expansion.

The news follows Bill.com's initial public offering in December on the New York Stock Exchange where it sold 9.82 million shares, raising $216 million and giving it a valuation of about $1.6 billion. Bill.com automates invoicing for 81,000 businesses.

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