Small Business Platform Autobooks Announces $50M Series C Led by Macquarie Capital Principal Finance

Autobooks Announces $50 Million Series C

“To retain leadership, banks must leverage legacy merchant services programs to include digital payment acceptance tools that offer self-service integration. Autobooks makes this possible through our payment facilitation model (payfac) , which can be activated in days by industry-leading partners.”

Autobooks, the payments and accounting platform used by more than 800 financial institutions, today announced it has raised $50 million in a Series C funding round led by Macquarie Capital Principal Finance. The round also includes participation from new and existing investors, including: Baird Capital, Commerce Ventures, Draper Triangle, Mission OG and TD Bank (NYSE: TD). Larry Handen, senior managing director of Macquarie Capital, will join the Autobooks board.

“Our investment in Autobooks is a chance to help small businesses across the United States by supporting an exceptional team building an extraordinary product,” said Larry Handen.

Autobooks has become the leading integrated receivables platform for small businesses, enabling digital invoices, payment acceptance and automated accounting directly into online and mobile banking. The company has implemented turnkey integrations with the industry’s leading digital banking providers to deliver essential back-office services to more than one-third of the US market, with no-code deployments. Companies such as Alkami[NASDAQ : ALKT, Bottomline, CSI[OTCMKTS : CSVI, FIS[NYSE : FIS, Jack Henry[NASDAQ : JKHY, NCR[NYSE : NCR & Q2[NYSE : QTWO]have each integrated automatic books into their respective platform(s), making invoicing and accepting payments as ubiquitous as paying bills and capturing deposits remotely.[NASDAQ:ALKTBottomlineCSI[OTCMKTS:CSVIFIS[NYSE:FISJackHenry[NASDAQ:JKHYNCR[NYSE:NCR&Q2[NYSE:QTWOhaveeachembeddedAutobooksintotheirrespectiveplatform(s)makinginvoicing&paymentacceptanceasubiquitousasbillpayandremotedepositcapture[NASDAQ:ALKTBottomlineCSI[OTCMKTS:CSVIFIS[NYSE:FISJackHenry[NASDAQ:JKHYNCR[NYSE:NCR&Q2[NYSE:QTWOhaveeachembeddedAutobooksintotheirrespectiveplatform(s)makinginvoicing&paymentacceptanceasubiquitousasbillpayandremotedepositcapture

“Companies are increasingly looking for simple, bundled solutions to get paid and automate their back office. If the bank can’t deliver these services quickly, companies will go (and have gone) elsewhere,” said Steve Robert , co-founder, and CEO of Autobooks. “To maintain leadership, banks must leverage legacy merchant services programs to include digital payment acceptance tools that offer self-service integration. Autobooks makes this possible through our payment facilitation model ( payfac), which can be activated within days by industry leading partners”.

Autobooks has experienced explosive growth over the past year, with a capital-efficient acquisition strategy. Banking deployments increased by 800% to 840 installations. The increase in deployments has resulted in a 700% increase in adoption by small business customers, totaling over 60,000 businesses on the platform. The company now averages over 10,000 monthly signups and has surpassed $40 billion in transaction volume – helping customers reconcile their bank account(s) with its proprietary GL suite, in order to better manage cash flow and unlock working capital.

Cash flow is the oxygen for a small business. Autobooks helps a business send electronic invoices and provide personalized payment links/landing pages using a direct billing model to allow customers to pay online. In fact, 95% of invoices created with Autobooks are paid within 5 business days, significantly reducing the number of unpaid sales days. Incoming funds are deposited directly into their bank account for immediate use.

Autobooks also helps banks. In a cohort assessment of over 700 businesses using TD Online Accounting (powered by Autobooks) – average customer deposits increased by 65%, while product usage doubled. TD Bank used a product-driven growth strategy, bundling billing into its Simple Business verification product as a standard feature. This allowed the bank to leverage a self-service digital registration for small/micro businesses to stay ahead of the competition. Learn more about TD’s reinvention of small business checks here:


About Autobooks:

Detroit-based Autobooks is a provider of small business banking solutions that facilitate payment, cash flow management and accounting automation. Through Autobooks, financial institutions can deliver essential back-office tools to better serve small and micro businesses, directly within their existing digital banking channels.

For more information, ask your technology provider about Autobooks or visit

About Macquarie Capital:

Macquarie Capital is the principal advisory, capital markets and investment arm of the Macquarie Group. It encompasses corporate advisory, a full range of capital solutions, including capital-raising services from equity, debt and private capital markets and major investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in aerospace, energy, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials , infrastructure, resources, software and services, technology, telecommunications and media. Macquarie Capital Principal Finance, the principal finance and investment arm of Macquarie Capital makes investments from Macquarie’s balance sheet and provides flexible primary finance and secondary market investment solutions for corporate and commercial real estate businesses in North America, Europe and Australasia.

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