Receipt Bank rebrands to Dext as it passes 1m users

By Oliver Smith on Wednesday 24 February 2021

Digital Banking

A shiny new name and logo for the receipt-scanning fintech.

Receipt Bank rebrands to Dext as it passes 1m users
Image source: Adrian Blair/Dext.

It seems the marketing team at TransferWise (now Wise) weren’t the only ones plotting a rebrand for 2021, as Receipt Bank has also shed its name this week to become Dext.

The change comes as Dext says it now has over 1m users, with 250,000 of those joining last year alone and the group having doubled its users over the past 24 months.

“One million users is a phenomenal landmark, but there are hundreds of thousands of accountants looking after hundreds of millions more businesses that still need sound financial insight to survive and thrive,” said Dext CEO Adrian Blair.

Dext’s acquisition of data quality specialist Xavier (now Dext Precision) last year accelerated the group’s growth and came off the back of its £55m Series C funding round at the start of 2020.

“It is clear from the success of Precision and some of our most recent product launches that accountants are crying out for tools to give expert advice to help businesses succeed in these turbulent times,” added Blair.

As part of the rebrand Dext’s core receipt scanning technology—which has driven its business since 2010 and has scanned some 408m pieces of paper since then—is now branded as Dext Prepare. Its focus is on capturing and categorising financial paperwork.

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