Autobooks is a technology company.
Autobooks has raised $71.0M across 4 funding rounds.
Autobooks has raised $71.0M in total across 4 funding rounds.
Autobooks is a fintech company providing embedded banking technology to financial institutions, enabling small businesses to handle invoicing, payments, accounting, and cash flow management directly within online and mobile banking platforms.[2][4][5] It serves U.S. banks and credit unions by equipping them to attract and retain small and medium-sized businesses (SMBs, typically under $20M in annual sales), offering tools like automated invoicing, contactless payments (including Tap to Pay on iPhone), profit/loss reporting, balance sheets, and direct deposits to checking accounts—all integrated seamlessly without third-party processors.[1][3][4][6] This solves key pain points for SMBs, such as high fees, payment delays, fragmented workflows, and lack of support from non-bank providers, while helping banks monetize relationships through non-interest income like interchange fees.[2][5][6][8] Growth momentum is evident in its adoption by thousands of small businesses, partnerships with innovative institutions, Microsoft Azure certification, and recognitions like 2024 Best Places to Work.[2][5][7]
Autobooks emerged from a team with over 20 years of experience delivering financial technology solutions, including internet banking, treasury, payments, and accounting services to hundreds of financial institutions.[2] The idea crystallized around addressing the gap where SMBs—too large for retail banking but too small for advanced treasury services—turn to costly, unsupported third-party fintechs, complicating their finances.[2][5] Pivotal early traction came from seamless integrations with core banking providers like CSI and rapid deployment on Microsoft Azure, enabling quick adoption by community banks, credit unions, and even top-10 banks to process billions in transactions and support millions of users.[5][6] This evolution positioned Autobooks as a bridge, transforming banks' digital channels into SMB hubs and driving user loyalty through self-service enrollment.[6]
Autobooks rides the embedded finance trend, embedding sophisticated SMB tools into traditional banking to counter fintech disruptors like Stripe, Square, and QuickBooks that siphon ~80% of SMBs away from banks.[2][5][8] Timing is ideal amid rising digital banking demands post-pandemic, gig-economy growth, and SMB digitization, where market forces like low non-interest income pressures on banks and SMBs' need for affordable, integrated cash management favor quick-integrate solutions.[6][8] It influences the ecosystem by down-marketizing treasury services, boosting bank deposits/fees, and reclaiming workflows—helping ~80% of underserved SMBs stay with incumbents, fostering loyalty and reducing fragmentation.[5][6]
Autobooks is poised to expand as banks prioritize SMB segments amid regulatory pushes for open banking and AI-driven automation in payments/accounting. Next steps likely include deeper AI for predictive cash flow, international partnerships, and enhanced gig-worker features to capture lifestyle businesses. Its influence could evolve by setting standards for embedded SMB tech, pressuring competitors on integration speed and bank alignment—ultimately redefining small business banking as a seamless, institution-led experience that powers growth from day one.[2][5][8]
Autobooks has raised $71.0M in total across 4 funding rounds.
Autobooks's investors include Baird Capital, General Catalyst.
Autobooks has raised $71.0M across 4 funding rounds. Most recently, it raised $50.0M Series C in June 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2022 | $50.0M Series C | Baird Capital, General Catalyst | |
| Jul 1, 2020 | $5.0M Series A | Baird Capital, General Catalyst | |
| Feb 1, 2018 | $10.0M Series A | Baird Capital, General Catalyst | |
| Mar 1, 2017 | $6.0M Series A | Baird Capital, General Catalyst |