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 sosterrà 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 contabilità tramite banche e cooperative di credito. L'azienda ha registrato una crescita significativa, classificandosi al #258 e #249 nella lista delle aziende in più 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 così una piattaforma bancaria completa per le piccole imprese.
Runway Growth Capital (RWAY) ha otorgado un préstamo a plazo senior garantizado de 40 millones de dólares a Autobooks, una empresa fintech especializada en soluciones de pago integradas para pequeñas y medianas empresas. Los fondos apoyarán la expansión de Autobooks y su reciente adquisición de Allied Payment Network.
Autobooks, fundada en 2015 y con sede en Detroit, ofrece soluciones integradas de gestión financiera que incluyen facturación, aceptación de pagos y contabilidad a través de bancos y cooperativas de crédito. La compañía ha mostrado un crecimiento significativo, ubicándose en los puestos #258 y #249 en la lista de las empresas de más rápido crecimiento de Inc. 5000 en 2022 y 2023, respectivamente.
La adquisición de Allied Payment Network mejora la plataforma de Autobooks al agregar soluciones de pago de facturas en tiempo real y distribución digital, creando una plataforma bancaria integral para pequeñas empresas.
Runway Growth Capital (RWAY)는 중소기업을 위한 통합 결제 솔루션을 전문으로 하는 핀테크 회사인 Autobooks에 4,000만 달러 규모의 선순위 담보 대출을 제공했습니다. 이번 자금 조달은 Autobooks의 확장과 최근 Allied Payment Network 인수를 지원할 예정입니다.
2015년에 설립되어 디트로이트에 본사를 둔 Autobooks는 은행 및 신용조합을 통해 송장 발행, 결제 수락, 회계 기능을 포함한 내장형 금융 관리 솔루션을 제공합니다. 이 회사는 2022년과 2023년에 각각 Inc. 5000의 가장 빠르게 성장하는 기업 목록에서 258위와 249위를 기록하며 상당한 성장을 보여주고 있습니다.
Allied Payment Network 인수로 Autobooks의 플랫폼은 실시간 청구서 결제 및 디지털 송금 솔루션이 추가되어 중소기업을 위한 종합 은행 플랫폼으로 거듭나게 되었습니다.
Runway Growth Capital (RWAY) a accordé un prêt senior garanti de 40 millions de dollars à Autobooks, une fintech spécialisée dans les solutions de paiement intégrées pour les petites et moyennes entreprises. Ce financement soutiendra l'expansion d'Autobooks ainsi que sa récente acquisition d'Allied Payment Network.
Fondée en 2015 et basée à Detroit, Autobooks propose des solutions de gestion financière intégrées, incluant la facturation, l'acceptation des paiements et la comptabilité via des banques et des coopératives de crédit. L'entreprise a connu une croissance significative, se classant respectivement aux positions #258 et #249 sur la liste des entreprises à 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 réel et de distribution numérique, créant ainsi une plateforme bancaire complète pour les petites entreprises.
Runway Growth Capital (RWAY) hat Autobooks, einem Fintech-Unternehmen, das integrierte Zahlungslösungen für kleine und mittelständische Unternehmen anbietet, einen gesicherten Senior-Terminkredit in Höhe von 40 Millionen US-Dollar bereitgestellt. Die Finanzierung unterstützt die Expansion von Autobooks sowie die kürzliche Übernahme von Allied Payment Network.
Autobooks, gegründet 2015 mit Sitz in Detroit, bietet eingebettete Finanzmanagementlösungen wie Rechnungsstellung, Zahlungsakzeptanz und Buchhaltungsfunktionen über Banken und Kreditgenossenschaften an. Das Unternehmen verzeichnete ein erhebliches Wachstum und belegte 2022 und 2023 die Plätze #258 bzw. #249 in der Liste der am schnellsten wachsenden Unternehmen von Inc. 5000.
Die Übernahme von Allied Payment Network erweitert die Plattform von Autobooks um Echtzeit-Rechnungszahlungen und digitale Auszahlungsfunktionen, wodurch eine umfassende Bankplattform für 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—a 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—the 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 Steve Robert, 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 Jeff Goldrich, 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 — 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 — 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."
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 — 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 — 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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