XU Magazine - Issue 06

Receipt Bank receives USD$10million investment

Written by Michael Wood

Just before we went to print we heard the news that popular Xero Add-on Receipt Bank has received USD$10million in funding.

The investment has been raised from Kennet Partners, a growth equity firm that “invests in successful highgrowth companies in Europe and North America”.


Over the years Xero has made huge investments in their API; investments that have allowed Xero users to connect other applications (such as Point-of-Sale solutions, inventory systems and lending products) to their Xero. This ability to connect has been one of the key benefits of using Xero.

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About the author

Michael Wood

Michael Wood is a co-founder and director at Receipt Bank. He is also the Head of Partnerships.