Toronto-based Sensibill announced today that it has raised $2 million in seed funding, led by Impression Ventures with participation from Six Squared Capital, the Ontario Centres of Excellence, and Ryerson Futures. Sensibill also announced that Impression Managing Partner Bryan Kerdman, who participated in the launch of Canada’s Electronic Bill Payment network as well as Interac’s eTransfer offering, would be joining Sensibill’s Board of Directors.
Sensibill’s receipt management platform lets banks provide customers access to digitized receipts via desktop or their mobile banking app. Sensibill is positioning the service as a customer value-ad for banks, as well as a tool to boost ROI via new revenue streams and streamlined customer support.
“Sensibill is filling a major gap in the consumer financial landscape by providing intelligent receipt solutions to banks and retailers,” said Impression Ventures’ Managing Partner Christian Lassonde. “Translating unstructured receipt data into a standards-based data set is complex, but Sensibill has created a compelling solution that is elegant and powerful.”
Speaking with Sensibill CEO, Corey Gross, he was reticent to name the company’s current banking partners, but did indicate that they were large Canadian financial institutions. Gross also told BetaKit that the seed funding would be used to build out Sensibill’s team and scale its operations.
Sensibill is also notably a Ryerson Futures alumnus, the technology accelerator connected to the Ryerson University Digital Media Zone (DMZ). “The team at Ryerson Futures has provided us mentorship, helped us attract great board leadership, and, most importantly, helped us onboard our early partners,” Gross said. “The DMZ is a fantastic ecosystem and has helped our team attract great talent.”