Autobooks, the small business payment and accounting services platform, has raised $25 million in Series B funding round led by MissionOG along with participation of other investors including Detroit Venture Partners, TD Bank Group, Draper Triangle and Renaissance Venture Capital. This brings the total round of funds raised by the fintech to $42.5 million.
Autoboks was founded in 2015 by Aaron Schmid and Steven Robert. The Detroit based fintech startup is the first fully integrated payments and accounting platform for businesses, delivered through online banking. This round of funding will enable the company to expand its operations in the domestic and international markets, accelerate product innovation and increase its engagement with large, enterprise banks.