Runway Growth Capital Announces $40 Million Investment in Autobooks to Accelerate Strategic Growth, Including Its Acquisition of Allied Payment Network
Runway Growth Capital (RWAY) has provided a $40 million senior secured term loan to Autobooks, a fintech company specializing in integrated payment solutions for small and medium-sized businesses. The funding will support Autobooks' expansion and its recent acquisition of Allied Payment Network.
Autobooks, founded in 2015 and based in Detroit, offers embedded financial management solutions including invoicing, payment acceptance, and bookkeeping capabilities through banks and credit unions. The company has shown significant growth, ranking #258 and #249 on Inc. 5000's fastest-growing companies list in 2022 and 2023, respectively.
The acquisition of Allied Payment Network enhances Autobooks' platform by adding real-time bill pay and digital disbursement solutions, creating a comprehensive small business banking platform.
Runway Growth Capital (RWAY) ha concesso un prestito a termine senior garantito da 40 milioni di dollari ad Autobooks, una fintech specializzata in soluzioni di pagamento integrate per piccole e medie imprese. Il finanziamento sosterr脿 l'espansione di Autobooks e la sua recente acquisizione di Allied Payment Network.
Autobooks, fondata nel 2015 e con sede a Detroit, offre soluzioni integrate di gestione finanziaria che includono fatturazione, accettazione pagamenti e contabilit脿 tramite banche e cooperative di credito. L'azienda ha registrato una crescita significativa, classificandosi al #258 e #249 nella lista delle aziende in pi霉 rapida crescita di Inc. 5000 nel 2022 e 2023, rispettivamente.
L'acquisizione di Allied Payment Network arricchisce la piattaforma di Autobooks aggiungendo soluzioni di pagamento bollette in tempo reale e distribuzione digitale, creando cos矛 una piattaforma bancaria completa per le piccole imprese.
Runway Growth Capital (RWAY) ha otorgado un pr茅stamo a plazo senior garantizado de 40 millones de d贸lares a Autobooks, una empresa fintech especializada en soluciones de pago integradas para peque帽as y medianas empresas. Los fondos apoyar谩n la expansi贸n de Autobooks y su reciente adquisici贸n de Allied Payment Network.
Autobooks, fundada en 2015 y con sede en Detroit, ofrece soluciones integradas de gesti贸n financiera que incluyen facturaci贸n, aceptaci贸n de pagos y contabilidad a trav茅s de bancos y cooperativas de cr茅dito. La compa帽铆a ha mostrado un crecimiento significativo, ubic谩ndose en los puestos #258 y #249 en la lista de las empresas de m谩s r谩pido crecimiento de Inc. 5000 en 2022 y 2023, respectivamente.
La adquisici贸n de Allied Payment Network mejora la plataforma de Autobooks al agregar soluciones de pago de facturas en tiempo real y distribuci贸n digital, creando una plataforma bancaria integral para peque帽as empresas.
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2015雲勳棎 靹る霅橃柎 霐旐姼搿滌澊韸胳棎 氤胳偓毳� 霊� Autobooks電� 鞚�頄� 氚� 鞁犾毄臁绊暕鞚� 韱淀暣 靻§灔 氚滍枆, 瓴办牅 靾橂澖, 須岅硠 旮半姤鞚� 韽暔頃� 雮挫灔順� 旮堨湹 甏�毽� 靻旊（靺橃潉 鞝滉车頃╇媹雼�. 鞚� 須岇偓電� 2022雲勱臣 2023雲勳棎 臧侁皝 Inc. 5000鞚� 臧�鞛� 牍犽ゴ瓴� 靹膘灔頃橂姅 旮办梾 氇╇鞐愳劀 258鞙勳檧 249鞙勲ゼ 旮半頃橂┌ 靸侂嫻頃� 靹膘灔鞚� 氤挫棳欤缄碃 鞛堨姷雼堧嫟.
Allied Payment Network 鞚胳垬搿� Autobooks鞚� 頂岆灚韽检潃 鞁れ嫓臧� 觳惮靹� 瓴办牅 氚� 霐旍韯� 靻￡笀 靻旊（靺橃澊 於旉皜霅橃柎 欷戩唽旮办梾鞚� 鞙勴暅 膦呿暕 鞚�頄� 頂岆灚韽检溂搿� 瓯半摥雮橁矊 霅橃棃鞀惦媹雼�.
Runway Growth Capital (RWAY) a accord茅 un pr锚t senior garanti de 40 millions de dollars 脿 Autobooks, une fintech sp茅cialis茅e dans les solutions de paiement int茅gr茅es pour les petites et moyennes entreprises. Ce financement soutiendra l'expansion d'Autobooks ainsi que sa r茅cente acquisition d'Allied Payment Network.
Fond茅e en 2015 et bas茅e 脿 Detroit, Autobooks propose des solutions de gestion financi猫re int茅gr茅es, incluant la facturation, l'acceptation des paiements et la comptabilit茅 via des banques et des coop茅ratives de cr茅dit. L'entreprise a connu une croissance significative, se classant respectivement aux positions #258 et #249 sur la liste des entreprises 脿 la croissance la plus rapide d'Inc. 5000 en 2022 et 2023.
L'acquisition d'Allied Payment Network enrichit la plateforme d'Autobooks en ajoutant des solutions de paiement de factures en temps r茅el et de distribution num茅rique, cr茅ant ainsi une plateforme bancaire compl猫te pour les petites entreprises.
Runway Growth Capital (RWAY) hat Autobooks, einem Fintech-Unternehmen, das integrierte Zahlungsl枚sungen f眉r kleine und mittelst盲ndische Unternehmen anbietet, einen gesicherten Senior-Terminkredit in H枚he von 40 Millionen US-Dollar bereitgestellt. Die Finanzierung unterst眉tzt die Expansion von Autobooks sowie die k眉rzliche 脺bernahme von Allied Payment Network.
Autobooks, gegr眉ndet 2015 mit Sitz in Detroit, bietet eingebettete Finanzmanagementl枚sungen wie Rechnungsstellung, Zahlungsakzeptanz und Buchhaltungsfunktionen 眉ber Banken und Kreditgenossenschaften an. Das Unternehmen verzeichnete ein erhebliches Wachstum und belegte 2022 und 2023 die Pl盲tze #258 bzw. #249 in der Liste der am schnellsten wachsenden Unternehmen von Inc. 5000.
Die 脺bernahme von Allied Payment Network erweitert die Plattform von Autobooks um Echtzeit-Rechnungszahlungen und digitale Auszahlungsfunktionen, wodurch eine umfassende Bankplattform f眉r kleine Unternehmen entsteht.
- Strategic acquisition of Allied Payment Network expands service offerings and market reach
- Secured $40 million in growth capital with minimal equity dilution
- Strong growth trajectory evidenced by consecutive Inc. 5000 rankings
- Expanding platform capabilities through integration of receivables, payables, and accounting services
- Increased debt burden from the $40 million term loan
- Integration risks associated with Allied Payment Network acquisition
Insights
RWAY's $40M loan to Autobooks supports strategic acquisition of Allied Payment Network, strengthening its position in fintech lending while enhancing Autobooks' SMB banking solutions.
Runway Growth Capital's
The investment's primary purpose is supporting Autobooks' acquisition of Allied Payment Network鈥攁 strategically significant combination that creates a more comprehensive financial technology platform. By integrating Autobooks' receivables capabilities (invoicing, payment acceptance, bookkeeping) with Allied's payables infrastructure (bill payment, disbursement), the merged entity offers financial institutions a complete solution for serving small and medium-sized businesses (SMBs).
This investment demonstrates RWAY's ability to identify promising growth opportunities in the fintech sector. Autobooks has shown impressive momentum, ranking No. 249 on Inc. 5000's fastest-growing companies list in 2023, improving from No. 258 in 2022. The senior secured structure provides RWAY with downside protection while participating in Autobooks' growth trajectory.
For financial institutions partnering with Autobooks, this acquisition addresses a critical market need鈥攖he ability to offer comprehensive financial tools to SMBs through existing banking relationships rather than seeing these customers migrate to standalone fintech platforms. The combined platform enables banks and credit unions to provide both receivables and payables functionality within their own digital banking experience.
The transaction reinforces RWAY's positioning as a sophisticated provider of growth capital to technology companies at crucial expansion stages. By structuring the investment as debt rather than equity, RWAY enables Autobooks to pursue strategic initiatives with minimal dilution while potentially generating attractive risk-adjusted returns for RWAY's investors.
The funding will enable Autobooks to expand its market presence, enhance its integrated financial technology solutions, and support its strategic growth initiatives.
Founded in 2015 and headquartered in
Under the leadership of co-founder and CEO , Autobooks has achieved substantial milestones, including consecutive recognition on Inc. 5000's list of fastest-growing private companies in America, ranking No. 258 in 2022 and No. 249 in 2023. Autobooks recently relocated its headquarters to 1505 Woodward Avenue in downtown
"Autobooks' robust growth and approach to empowering small businesses via direct integrations with leading financial institutions is truly innovative and aligns well with Runway's investment philosophy," said , Managing Director of Technology at Runway Growth Capital. "Our financing supports their ongoing platform growth and key strategic initiatives such as the Allied Payment Network acquisition, which we believe positions them as a critical partner for virtually any institution within the banking ecosystem that intends to serve the SMB market."
"Financial institutions want to deliver more value to their business customers 鈥� and they want to do it within the banking experience. By acquiring Allied Payments, we're bringing together receivables, payables, and accounting in a way that's never been done before," said Steve Robert, co-founder and CEO of Autobooks. "This is more than a product expansion 鈥� it's the next step in our mission to help financial institutions compete by offering small businesses the tools they need to succeed. We're grateful to have the support of Runway Growth Capital as we execute on this vision and continue to build a platform that meets the evolving needs of small businesses and their banking partners."听
Autobooks' acquisition of Allied Payment Network strengthens its embedded finance offerings by adding real-time bill pay and digital disbursement solutions, reinforcing its position as a comprehensive small business banking platform. Runway's financing reflects its ongoing commitment to supporting promising technology companies with tailored capital solutions, enabling them to scale effectively with minimal dilution.
About Runway Growth Capital LLC
Runway Growth Capital LLC is an investment adviser to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of a target of
About Autobooks
Autobooks is a leading provider of invoicing, digital payment acceptance, and accounting solutions for small businesses 鈥� fully integrated into online and mobile banking. Financial institutions choose Autobooks to deliver a modern, all-in-one experience for business customers, helping them get paid, pay others, and manage their accounting 鈥� all within digital banking. Based in
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission made by Runway and Runway's affiliated funds. Neither Runway nor Runway's affiliated funds undertake a duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Runway Growth Capital LLC
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