Harris Williams & Co. Ltd Advises Receipt Bank Ltd. on its Investment from Insight Venture Partners
Harris Williams & Co. Ltd, a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that it served as the exclusive advisor to London-based Receipt Bank Ltd. (Receipt Bank) on its investment from Insight Venture Partners (Insight). Receipt Bank is a leading provider of bookkeeping and accounting software. Kennet Partners (Kennet) has maintained its minority stake in the business. The transaction was led by Thierry Monjauze, Jonathan Organ, Sylvain Noblet and Mathew Tsui of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group.
“We are incredibly excited to have represented Receipt Bank,” said Thierry Monjauze, a managing director in Harris Williams & Co.’s TMT Group in London. “The investment comes at an inflection point in the company’s history where there is significant opportunity for accelerated global expansion and new product development to further augment the company’s exceptional growth trajectory.”
“Insight is a great new partner for Receipt Bank. Kennet and Insight bring a wealth of experience and industry knowledge and we look forward to witnessing the business execute its growth initiatives during this new phase of investment,” said Jonathan Organ, a director in Harris Williams & Co.’s TMT Group.
Founded in 2010, Receipt Bank has been revolutionising bookkeeping for over 5,000 accounting and bookkeeping firms globally, using award-winning AI and automation to help unlock the value of bookkeeping and real-time accounting.
Kennet is a leading international growth equity firm that invests in high-growth companies in Europe and North America. The firm supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $700 million in funds under management.
Insight is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in nearly 300 companies worldwide. The firm’s mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success.
Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including data & analytics, AdTech & marketing solutions, eCommerce, and digital media & content. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.