Receipt Bank raises £55mn

Bookkeeping platform Receipt Bank has raised £55mn in equity and debt.

In Brief:

• This was the company’s Series C round.

• It included Insight Partners, Augmentum Fintech, Kennet Partners and Canadian Imperial Bank of Commerce.

• The platform is used by more than 350,000 businesses.

What does this mean?

The new funding will help the business expand its suite of products as well as expand geographically.

Read more here.