Briefing

Toronto fintech Sensibill raises $41 million in round led by Radical Ventures

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Sensibill’s software takes photos of receipts for mobile-banking apps. About 10 million customers use its products through their banks, but the company expects that number to triple both that number and its annualized revenues by year’s end following this investment. (Globe and Mail)

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Talking point: This is the fifth time in under a month that a Canadian startup has raised over $30 million in a financing round led by a Canadian investor. Alaya Care, Xanadu, Dialogue and Inventys have all raised $30-million-plus rounds since mid-June. Sensibill currently has over 30 partnerships with major banks, but expects to have 100 by the end of 2019. The company has been growing rapidly, though not quite at that pace, in recent years. Sensibill’s headcount has more than doubled since it raised a $17.3-million Series A round in 2017.