Freedom Bank of Virginia taps Autobooks for new digital invoicing solution

Freedom Bank of Virginia has partnered with US-based fintech Autobooks to launch a new digital invoicing and payment solution for small and medium-sized businesses (SMBs).

Freedom Bank partners Autobooks

The suite of digital tools to support small businesses will be integrated into Freedom Bank’s online and mobile banking platforms.

The community bank’s business clients will now be able to generate professional invoices and send them directly to their customers, with each invoice including a “pay now” button that recipients can use to make their payment securely using a credit card or automated clearing house (ACH) payment.

Businesses will not incur a monthly fee, instead paying only for the merchant fees incurred through credit card transactions and ACH payments sent by their customer.

Freedom Bank CEO Joe Thomas says the new service will add to its suite of online “critical money management tools one would only expect at a larger bank”, designed for small businesses.

Headquartered in Fairfax, Virginia, Freedom Bank offers commercial banking, personal banking and mortgage banking solutions, focusing on businesses, real estate owners and professionals.

Based in Detroit, Autobooks provides banking solutions that facilitate payments, manage cashflow and automate accounting.

In June, the firm raised $50 million in a Series C round led by Macquarie Capital Principal Finance.