Routable, Inc.

Routable, Inc. is a financial technology company specializing in automating accounts payable processes, facilitating mass payments, and enhancing vendor management through advanced software solutions. Founded in 2017, Routable, Inc. operates from its headquarters in San Francisco, US.

The company focuses on automating financial processes for businesses, although there have been no significant pivots in its business strategy. The founders, Omri Mor and Tom Harel, have previously established other ventures. In April 2021, Routable raised USD 29. 96 mn in Series B funding, bringing its total amount raised to USD 29.

96 mn with a current valuation of USD 126. 30 mn. The latest round included participation from Flexport, Inc. Routable offers a comprehensive suite of financial technology solutions, primarily focused on automating accounts payable (AP) processes, facilitating mass payments, and enhancing vendor management.

Core offerings include automated invoice processing using AI-powered optical character recognition (OCR), customizable approval workflows, and advanced payment reconciliation tools. The platform is designed to eliminate manual entry errors, streamline payment processes, and ensure compliance with internal controls and regulations. Routable serves a diverse clientele across over 220 countries, supporting transactions in more than 140 currencies, with markets in North America, Europe, and Asia. Routable generates revenue through subscriptions for its AP automation platform and transaction-based fees for payment services.

Clients typically subscribe to the platform, enabling efficient automation of accounts payable tasks and mass payment processing. The pricing structure involves tiered subscription plans based on transaction volume and features utilized. Key services, such as the Payments API and vendor management capabilities, facilitate seamless transactions between businesses and their vendors, aiming to streamline financial operations and enhance compliance for clients. Following the Series B funding round concluded in April 2021, Routable plans to use the USD 29.

96 mn raised to scale its team and expand its offerings in the enterprise market. The company aims to launch new products designed to enhance its financial solutions, although specific release dates have not been disclosed. Additionally, Routable is focused on expanding its footprint into new geographic regions, furthering its market reach in both existing and untapped territories.