Receipt Management Startup Sensibill Raises $31.5 Million

Toronto’s Sensibill has raised US $31.5 million in a Series B funding round led by AI-focused venture fund Radical Ventures.

Also participating in the round was Information Venture Partners, First Ascent Ventures, and National Bank of Canada.

Founded in 2013, the AI-powered digital receipt startup targets freelancers and small business owners and has now raised total financing of $46.5 million.

Sensibill works with banks such as TD and Scotiabank to incorporate its digital receipt technology into their apps, enabling personal and business customers to manage line item receipts from their phones.

The platform uses machine learning to structure receipt data and give both banks and their customers rich insights such as product information, return policy tracking and categorization.