(London, February 18, 2019) Receipt Bank, a cutting-edge global financial technology company, today announced the appointment of Adrian Blair as CEO.
Adrian, a leading expert in multi-national sales and business development, was previously Global Chief Operating Officer at Just Eat PLC where he had P&L responsibility for all markets, growing revenue from £25m to over £700m.
His hiring follows a strong year for Receipt Bank in which the company passed US$30m in Annual Recurring Revenue (ARR) with 75% revenue growth.
Receipt Bank, a unique platform using AI-powered OCR technology, is poised to revolutionise small business productivity and cloud accounting for millions of businesses.
Alexis Prenn, founder and current CEO of Receipt Bank commented: “We’ve hit new milestones much faster than anticipated and are positioned for exponential growth.
“Adrian has unique experience in turning companies of Receipt Bank’s current size into billion-dollar enterprises and a history of leading teams within large enterprises, which are both critical to seizing the huge market opportunity ahead of us.”
As Chief Operating Officer of Just Eat from 2011 to 2018 Adrian was the only executive team member to serve throughout the company’s transformation from start-up to FTSE 100.
Before this, he led business development for Spotify in Europe and spent six years in senior commercial roles at Google in California and London.
He is a non-executive director at leading hybrid estate agency Purplebricks, and co-founder and Chair of Circl.org, a next-generation leadership development programme for students from deprived backgrounds.
“Receipt Bank has established a market leading position across continents automating the processing of small business financials” added Adrian.
“I have spent the last fifteen years at three companies which transformed global industries. The same opportunity is clearly ahead of Receipt Bank. I am excited to work with the fantastic team Alexis has built to create another transformative global leader, helping millions of small businesses.”
After building a strong team of 400 people at the company – and driving the efforts for its solution to be used and loved by thousands of accounting and bookkeeping firms around the world – Mr Prenn will continue to serve as Chairman of the board.
About Receipt Bank
Over the past eight years, the Receipt Bank mission has grown fast. We’ve opened six offices over four continents, with over 400 employees. And leading firms Kennet Partners and Insight Venture Partners have invested $65 Million in our vision.
Founded out of frustration from the amount of time and money lost in forgotten expenses, missing receipts and weekends spent sorting through paperwork. Our founders decided there must be a better way to track business data and share it with your accountant.
150 million receipts, invoices, bills and bank statements later, Receipt Bank now connects accountants, bookkeepers and businesses to unlock the value of accounting data.
We’ve come a long way from just reading receipts. Now we make it simple for businesses to capture, process and share their key financial information quickly and easily.
Our unique combination of AI-powered OCR technology and human verification turns documents into digital data faster than any other solution, with a level of 99.9% accuracy you can trust.
There’s no waiting around, no data entry, and no paperwork. For cloud or desktop systems, we update the general ledger in real time, so your business and your clients are always up to date.
Receipt Bank powers real-time accounting and helps you operate at the speed of business.