Dext, formerly known as Receipt Bank, is a cloud-based accounting software company that focuses on automating and digitizing financial data management for businesses. It serves as a comprehensive solution for small to medium-sized businesses, providing tools to streamline bookkeeping and financial reporting processes. Headquartered in London, Dext has expanded its operations globally, with offices in the UK, US, Australia, and Canada.
Founded in 2010, Dext was established to revolutionize the way accountants and bookkeepers handle financial data. The company aimed to bridge the gap between traditional accounting practices and modern technology by leveraging automation and artificial intelligence. Over the years, Dext has experienced significant growth, marked by strategic partnerships and continuous innovation to meet the evolving needs of its users.
Dext has raised a total of $133 million over multiple funding rounds. Key investors include HgCapital, Insight Partners, and Augmentum Fintech. This funding has supported Dext's expansion efforts and product development, although specific valuation figures are not publicly disclosed.
Dext offers a robust suite of features designed to simplify accounting processes:
Dext has continuously expanded its product offerings by integrating new features and enhancing existing ones. The company has invested heavily in research and development to maintain its competitive edge in the accounting software market.
Recent updates have focused on improving processing speeds and accuracy. Dext has released over 300 new features in recent years, including enhanced data extraction capabilities that are now 16 times faster than before. These updates reflect Dext's commitment to continuous improvement and innovation.
Dext emphasizes a culture of innovation, customer focus, and continuous improvement. The company values feedback from its user community to drive product development and ensure that new features meet customer needs effectively.
With over 1.2 million users worldwide, Dext serves a diverse range of businesses across various industries. It is particularly popular among small to medium-sized enterprises looking for efficient bookkeeping solutions. The platform's active community includes accountants and bookkeepers who engage through forums like Orange Select to share insights and provide feedback on product features.
