# Autobooks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/autobooks

- Industry: Software
- Headquarters: Detroit, US
- Website: www.autobooks.co
- Total disclosed funding: $91M
- Latest round: Series C (Jun 21, 2022)
- Investors on record: 10

## About

Autobooks is a financial management technology company that enhances small business operations through invoicing and payment solutions integrated into banking systems, simplifying financial processes for users.Founded in 2015 and headquartered in Detroit, US, Autobooks provides financial management solutions specifically designed for small businesses. In May 2025, Autobooks, Inc. raised USD 40 million in venture debt funding from new investor Runway Growth Capital. The current CEO is Steven Robert, who co-founded the company along with J Schmid and Vincent Thomas. Autobooks specializes in providing comprehensive financial management solutions tailored for small businesses through partnerships with banks and credit unions. Its core offerings include invoicing, payment acceptance, and accounting functionalities, all seamlessly integrated within the online and mobile banking environments of its partner financial institutions. Clients can create and send professional invoices within minutes, accept payments via secure links, QR codes, or in-person through contactless transactions using Tap to Pay on iPhone. Autobooks aims to simplify the payment process for businesses by eliminating the need for costly third-party platforms, enabling users to manage their finances directly through their banking accounts. The primary customer base consists of small businesses across various sectors, including professional services, healthcare, and retail, primarily located in the United States.Autobooks generates revenue through transaction processing associated with its financial management services, which are offered directly to small businesses. The company typically charges fees related to payment processing and may offer subscription models for advanced features within its accounting and bookkeeping solutions. For instance, businesses that utilize Autobooks’ invoicing and digital payment functionalities benefit from reduced processing rates compared to traditional credit card processors. Additionally, partnerships with banks and credit unions facilitate revenue sharing arrangements, wherein these financial institutions may also earn from the transactions processed through the Autobooks platform. The seamless integration of these services into the banking experience allows businesses to access their funds instantly, promoting efficient cash flow management. The company will use the funding to support its goals and acquisition of Allied Payment Network.

## Funding rounds

- Series C, Jun 21, 2022, $50M — Magarac Venture Partners, Baird Capital Partners, Commerce Ventures, MissionOG, TD Bank, Macquarie Group
- Series B, Mar 11, 2021, $25M — Magarac Venture Partners, Renaissance Venture Capital, Detroit Venture Partners, MissionOG, TD Bank
- Series A, Feb 7, 2018, $10M — Magarac Venture Partners, Baird Capital Partners, Detroit Venture Partners, InvestMichigan! Growth Capital Fund, CU Solutions Group, Inc.
- Series A, Mar 13, 2017, $5.5M — Magarac Venture Partners, Baird Capital Partners, Detroit Venture Partners, InvestMichigan! Growth Capital Fund, CU Solutions Group, Inc.

## Investors

- Magarac Venture Partners (https://capitalatlas.ai/funds/magarac-venture-partners) — Series A, Series B, Series C
- Baird Capital Partners (https://capitalatlas.ai/funds/baird-capital-partners) — Series A, Series C
- Detroit Venture Partners (https://capitalatlas.ai/funds/detroit-venture-partners) — Series A, Series B
- InvestMichigan! Growth Capital Fund — Series A
- CU Solutions Group, Inc. — Series A
- Renaissance Venture Capital (https://capitalatlas.ai/funds/renaissance-venture-capital) — Series B
- MissionOG (https://capitalatlas.ai/funds/missionog) — Series B, Series C
- TD Bank — Series B, Series C
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Series C
- Macquarie Group (https://capitalatlas.ai/funds/macquarie-group) — Series C