Dext
Bookkeeping automation for accountants and bookkeepers: receipt, invoice and bank data capture and coding into Xero, QuickBooks and Sage, founded in London as Receipt Bank and owned by IRIS Software Group since December 2024.
| Founded | 2010, London, as Receipt Bank |
|---|---|
| Founders | Alexis Prenn, Michael Wood (now founder of Translucent); Sabby Gill has been CEO since October 2022 |
| Ownership | IRIS Software Group since 23 December 2024, acquired from Hg; Hg’s investment was valued at about GBP 32.7m in the sale |
| Customers | Hundreds of thousands of businesses through more than 12,000 accounting and bookkeeping firms |
| What it does | Document capture by app, email and fetch, line-item extraction, supplier rules and coding, e-commerce sales data through Dext Commerce, and practice insights, connected to 36-plus accounting systems and 11,500 banks |
| Recent moves | Integration with IRIS Elements after the sale; AI extraction upgrades; continued focus on firm channel |
| Pricing | Per client per month, sold to firms; from about GBP 20 a month for direct business plans |
| Markets | UK, Australia, US, Canada, France |
| Peers | Hubdoc, AutoEntry, Datamolino, Xero, IRIS Software Group |
Why it matters
Dext defined receipt capture for the accounting profession and its sale to IRIS put the largest UK practice software group in charge of the front door to most firms’ bookkeeping data. The modest price Hg realised shows how far the standalone capture category has commoditised.
Part of Accountio’s accounting technology coverage.
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