Revolut Business integrates with Clear Books for SME accounting

via AltFi

Revolut has today announced a new integration for its Business accounts with cloud-based SME accounting software Clear Books.

The partnership will help Revolut’s business customers track paid and outstanding invoices, look at records and expenses and automatically generate financial reports.

Clear Books provides online accounting software for small businesses, contractors, freelancers and sole traders.

Following the integration, Revolut Business customers in the UK can also use Clear Books’ technology to set up smart rules for automatic allocation, allowing them to match repeating transactions in just one click.

Clear Books joins the likes of Xero, Slack and FreeAgent, all of which were first available when Revolut’s business marketplace launched in June 2018.

For Revolut’s business customers, the digital banking service will have been a notable absentee from the ever-growing list of accredited lenders who have been offering SMEs government-backed Bounce Back and CBILS loans to the tune of £22bn. 

Revolut’s integration with Clear Books comes just three months after it announced a partnership with financial API provider TrueLayer to bring open banking to all of its business and retail customers. 

The business banking service also recently launched its first bank under its European Banking Licence in Lithuania after having been approved back in late 2018.

Revolut has also been on the hunt for a UK chairperson to help it secure a UK banking licence after having operated in the UK for five years without one.

Revolut has over 10m customers across 36 countries, including 400,000 Revolut Business customers.