Receipt Bank Acquires Xavier
Summary
The deal, which follows Receipt Bank’s successful $73m January Series C raise, is part of the company’s strategy to provide products for accountants to deliver advice to businesses. Led by Rich Nicolson, CEO, Xavier automates complex checking of financial data with an easily understandable health score. The company plans to expand the joint offer internationally in 2020, with Xavier springboarding into Australia this Autumn, following the launch business insights tool ‘Resilience’. Led by CEO Adrian Blair, Receipt Bank is a large digital accounting software provider used by over 400,000 businesses. The company is based in London and has offices in 7 markets with 450 employees, including US, Canada, France, South Africa, Australia and the UK.
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