Detroit-based small business payment and accounting service Autobooks raised $25 million in series B funding, led by MissionOG. Also participating in the fresh financing was Renaissance Venture Capital, Detroit Venture Partners and Draper Triangle, along with TD Bank Group (NYSE: TD).

“The ability to receive payments online is vital for today’s small business,” said Rob Metzger, General Partner at MissionOG. “As we analyzed the market, we were impressed with Autobooks’ unique ability to successfully partner with financial institutions. These partnerships help redefine integrated receivables, bringing immediate and significant value to treasury and cash-management services and the small businesses who most need the help.”

With the fresh funds, Autobooks plans to expand its efforts to enable small businesses to send digital invoices and accept online payments directly from their financial institution’s existing online and mobile banking channels.

The funding also follows a record 2020 for Autobooks, highlighted by 232% revenue growth and the addition of 46 financial institutions to Autobook’s rapidly growing customer base of banks and credit unions with assets ranging from $50 million to $350 billion.

“Last year was extraordinary for many reasons, filled with new challenges and opportunities in the fintech sector,” said Steve Robert, CEO of Autobooks, “Our team is humbled and inspired by the perseverance of small businesses - their creativity and resourcefulness to overcome obstacles, embrace technology and modernize their back office against all odds. We hear these stories every day, recognize their unmet needs and aim to help restore banks and credit unions role at the center of their customers' financial lives - combining modern technology, personalized service and contextual awareness to help businesses realize their full potential.”