Autobooks Secures $40 Million to Fuel Growth and Innovation
May 10, 2025, 3:31 am
Location: United States, Indiana, Fort Wayne
Employees: 51-200
Founded date: 2010
Location: United States, Michigan, Detroit
Employees: 51-200
Founded date: 2015
Total raised: $130.5M
In the fast-paced world of financial technology, securing funding is akin to catching lightning in a bottle. Autobooks, a Detroit-based innovator, has just done that. The company has raised $40 million from Runway Growth Capital, a significant boost that promises to propel its mission forward. This funding is not just a lifeline; it’s a launchpad for expansion and innovation.
Founded in 2015, Autobooks specializes in providing integrated payment, invoicing, and accounting solutions tailored for small and medium-sized businesses (SMBs). The company’s approach is simple yet powerful: embed financial management tools directly into the online and mobile banking platforms of financial institutions. This seamless integration allows small business owners to manage their finances without the hassle of juggling multiple platforms.
The recent investment will primarily support Autobooks’ acquisition of Allied Payment Network, a strategic move that enhances its service offerings. Allied Payment Network is known for its flexible payment solutions, and this acquisition is expected to broaden Autobooks’ capabilities significantly. By integrating real-time bill payment and digital disbursement solutions, Autobooks is positioning itself as a comprehensive banking platform for SMBs.
The financial landscape is evolving. Small businesses are increasingly looking for tools that simplify their operations. Autobooks recognizes this need and is stepping up to meet it. The company’s solutions allow businesses to get paid, pay others, and manage their accounting all within their banking experience. This is not just about convenience; it’s about creating a holistic financial ecosystem that empowers small businesses to thrive.
The acquisition of Allied Payment Network is a strategic chess move. It strengthens Autobooks’ embedded finance offerings, making it a more attractive partner for banks and credit unions. Financial institutions are eager to provide more value to their business customers, and Autobooks is helping them do just that. By offering a suite of integrated services, Autobooks enables banks to enhance their customer relationships and retain SMB clients.
The funding from Runway Growth Capital is a testament to Autobooks’ potential. Runway specializes in supporting promising technology companies with tailored capital solutions. This investment reflects a belief in Autobooks’ vision and its ability to scale effectively. With minimal dilution, Autobooks can focus on its growth trajectory without sacrificing ownership.
The move to acquire Allied Payment Network is more than just a product expansion; it’s a bold step toward redefining the banking experience for small businesses. Autobooks aims to bring together receivables, payables, and accounting in a way that has never been done before. This integration is crucial for financial institutions looking to compete in a crowded market.
Autobooks’ recent relocation to downtown Detroit is another signal of its commitment to the city’s burgeoning tech scene. By establishing its headquarters at 1505 Woodward Avenue, Autobooks is not just investing in its future; it’s investing in the future of Detroit. The city is becoming a hub for innovation, and Autobooks is at the forefront of this movement.
As small businesses continue to navigate the complexities of financial management, Autobooks is there to lighten the load. Its solutions are designed to be user-friendly, allowing business owners to focus on what they do best—running their businesses. The integration of invoicing, payment acceptance, and bookkeeping into a single platform is a game-changer.
The financial technology sector is ripe with opportunity. Companies like Autobooks are redefining how small businesses interact with their banks. The traditional banking model is being challenged, and Autobooks is leading the charge. By providing a comprehensive suite of tools, the company is helping financial institutions evolve and adapt to the needs of their customers.
The future looks bright for Autobooks. With the recent funding and strategic acquisition, the company is poised for significant growth. As it continues to innovate and expand its offerings, Autobooks is set to become a critical player in the financial technology landscape. The journey ahead is filled with potential, and Autobooks is ready to seize it.
In conclusion, Autobooks’ $40 million investment from Runway Growth Capital is more than just a financial boost; it’s a strategic maneuver that will enhance its capabilities and strengthen its position in the market. The acquisition of Allied Payment Network is a pivotal step toward creating a comprehensive banking experience for small businesses. As Autobooks continues to grow and innovate, it will undoubtedly play a crucial role in shaping the future of financial technology. The road ahead is paved with opportunities, and Autobooks is steering the way.
Founded in 2015, Autobooks specializes in providing integrated payment, invoicing, and accounting solutions tailored for small and medium-sized businesses (SMBs). The company’s approach is simple yet powerful: embed financial management tools directly into the online and mobile banking platforms of financial institutions. This seamless integration allows small business owners to manage their finances without the hassle of juggling multiple platforms.
The recent investment will primarily support Autobooks’ acquisition of Allied Payment Network, a strategic move that enhances its service offerings. Allied Payment Network is known for its flexible payment solutions, and this acquisition is expected to broaden Autobooks’ capabilities significantly. By integrating real-time bill payment and digital disbursement solutions, Autobooks is positioning itself as a comprehensive banking platform for SMBs.
The financial landscape is evolving. Small businesses are increasingly looking for tools that simplify their operations. Autobooks recognizes this need and is stepping up to meet it. The company’s solutions allow businesses to get paid, pay others, and manage their accounting all within their banking experience. This is not just about convenience; it’s about creating a holistic financial ecosystem that empowers small businesses to thrive.
The acquisition of Allied Payment Network is a strategic chess move. It strengthens Autobooks’ embedded finance offerings, making it a more attractive partner for banks and credit unions. Financial institutions are eager to provide more value to their business customers, and Autobooks is helping them do just that. By offering a suite of integrated services, Autobooks enables banks to enhance their customer relationships and retain SMB clients.
The funding from Runway Growth Capital is a testament to Autobooks’ potential. Runway specializes in supporting promising technology companies with tailored capital solutions. This investment reflects a belief in Autobooks’ vision and its ability to scale effectively. With minimal dilution, Autobooks can focus on its growth trajectory without sacrificing ownership.
The move to acquire Allied Payment Network is more than just a product expansion; it’s a bold step toward redefining the banking experience for small businesses. Autobooks aims to bring together receivables, payables, and accounting in a way that has never been done before. This integration is crucial for financial institutions looking to compete in a crowded market.
Autobooks’ recent relocation to downtown Detroit is another signal of its commitment to the city’s burgeoning tech scene. By establishing its headquarters at 1505 Woodward Avenue, Autobooks is not just investing in its future; it’s investing in the future of Detroit. The city is becoming a hub for innovation, and Autobooks is at the forefront of this movement.
As small businesses continue to navigate the complexities of financial management, Autobooks is there to lighten the load. Its solutions are designed to be user-friendly, allowing business owners to focus on what they do best—running their businesses. The integration of invoicing, payment acceptance, and bookkeeping into a single platform is a game-changer.
The financial technology sector is ripe with opportunity. Companies like Autobooks are redefining how small businesses interact with their banks. The traditional banking model is being challenged, and Autobooks is leading the charge. By providing a comprehensive suite of tools, the company is helping financial institutions evolve and adapt to the needs of their customers.
The future looks bright for Autobooks. With the recent funding and strategic acquisition, the company is poised for significant growth. As it continues to innovate and expand its offerings, Autobooks is set to become a critical player in the financial technology landscape. The journey ahead is filled with potential, and Autobooks is ready to seize it.
In conclusion, Autobooks’ $40 million investment from Runway Growth Capital is more than just a financial boost; it’s a strategic maneuver that will enhance its capabilities and strengthen its position in the market. The acquisition of Allied Payment Network is a pivotal step toward creating a comprehensive banking experience for small businesses. As Autobooks continues to grow and innovate, it will undoubtedly play a crucial role in shaping the future of financial technology. The road ahead is paved with opportunities, and Autobooks is steering the way.