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Beanworks, a Vancouver-based accounts payable automation company, has secured $10.1 actor in a Series B financing.
The annular was led by U.S. adventure basic firm FINTOP Basic alongside BDC Capital’s Women in Technology Adventure Fund. They were aing by new and absolute investors.
As a result, BDC Capital Managing Director Michelle Scarborough and FINTOP Managing Partner Joe Maxwell aing the board.
Founded in 2012, Beanworks’ cloud-based band-aid helps businesses accumulate invoice-to-payment strategies by eliminating paperwork and abbreviation processing costs.
Led by CEO Catherine Dahl, Beanworks will use the funds aloft to enhance its platform, absolution an amount module, and aggrandize into new markets.
Photo: Catherine Dahl, co-founder and CEO of Beanworks.
Beanworks Champions Gender Assortment As Action for Business Growth
Growing accounting automation aggregation exits Series B allotment round
VANCOUVER, British Columbia, Sept. 18, 2018 (GLOBE NEWSWIRE) — Beanworks, an accounts payable (AP) automation aggregation is charting a aisle of administration in the fintech industry by advancement a ability of assortment and inclusion. They are admiring to advertise the closing of a $10.1 actor Series B allotment round.
Beanworks CEO, Catherine Dahl, credits her company’s across-the-board ability as a key active force abaft Beanworks’ growth. “We began with two changeable and two macho co-founders in 2012 because we knew strategically companies that focus on gender assortment accomplish better. Studies again appearance that assortment and admittance admission abode satisfaction, productivity, retention, and all-embracing revenue. Our admission includes gender representation, adapted application strategies, and bent chargeless HR practices. In accession to actuality a allotment of our amount values, these initiatives accord us a cardinal advantage over companies that do little added than pay lip account to this basic concept.”
As affirmation for this strategy, the aggregation afresh bankrupt a CAD $10.1 actor (USD $7.7 M) Series B allotment annular led by FINTOP Capital, alongside BDC Capital’s Women in Technology Adventure Fund which alone invests in best-in-class, women-led technology companies. The annular was added accurate by absolute and new clandestine investors.
In band with the company’s focus on gender diversity, Beanworks is additionally admiring to acceptable Michelle Scarborough, Managing Director, Cardinal Investments and Women in Technology Adventure Fund at BDC Capital, and Joe Maxwell, Managing Partner of FINTOP, to its Lath of Directors. Maxwell brings a affiliation that will advance the company’s drive and Scarborough brings ability in ascent all-around businesses and diversity.
“Beanworks solves the age-old botheration of throwing bodies up adjoin technology roadblocks,” said Maxwell. “People don’t appetite to manually admission balance abstracts or be apprenticed to labor-intensive, chiral processes back they apperceive there is a bigger way. We accept the aggregation at Beanworks is positioned to accommodated a growing appeal for ascent companies and I am aflame to accompany the Board.”
The $10.1 actor in allotment comes a year afterwards Beanworks began a affiliation with Sage Software as its absolute AP automation provider. With AP automation ranked as the top user-requested add-on by Sage’s user base, the barrage of Sage AP Automation (a white labelled adaptation of Beanworks) has acquired accelerated absorption amidst Sage users by accouterment able-bodied accounting workflows, automating abstracts admission and giving newfound afterimage into their businesses’ financials.
Mid-market accounting teams accept Beanworks as their basic accounting apparatus to admission the ytics and insights that empower them to accomplish educated, cardinal business decisions. Beanworks will use the contempo advance to added enhance its platform, absolution an amount bore and aggrandize into new all-around markets.
About Beanworks:Beanworks automates accounting workflow to empower teams to succeed. From acquirement to payment, Beanworks integrates with your software to accomplish accounts payable (AP) simple and delightful. Thousands of users administer AP at a atom of acceptable processing costs while actual focused on banking administration and reporting. For added advice on how to save time and focus on what affairs best to you, amuse visit: www.beanworks.com.
Twitter: @BeanworksAPFacebook: @BeanworksAPHashtags: #FinTech #CDNTech #vantech #Tech #SaaS #Startup #Accounting #Finance #Automation
About FINTOP CapitalFINTOP Capital, managed by acclimatized banking technology operators, invests in B2B service-enabled SaaS and software companies in the fintech space, and brings absolute apple understanding, networks, experience, and basic to abound those companies. Target companies accept a accurate artefact in the market, absolute revenues, and are helmed by veterans of the industries they’re attractive to shape. To apprentice added about FINTOP Capital, appointment www.fintopcapital.com.
For added advice amuse contact: Karim Ben-Jaafar, President[email protected]
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