• Can I get a receipt for that? Plendi secures €50k seed investment from Enterprise Ireland

    Tuesday, March 29th, 2011

    Steve O’Hear is probably best known as a technology journalist, most recently at TechCrunch. He still occasionally blogs at last100. Until February 2012, he was CEO of expertise platform Beepl where he helped the company navigate its first VC round, along with seeing the product through development, private alpha and a high-profile public launch. Last100 was co-founded with Richard MacManus... → Learn More

    Irish startup Plendi, which helps people track their business expenses using their mobiles, has secured a €50,000 seed investment from Enterprise Ireland’s Internet and Games Competitive Start Fund.

    The Dublin-based company, whose launch we covered 4 months ago, is a sort of Mechanical Turk for transcribing paper receipts. Available for iPhone and Android, the app works as follows: You take a photo of a receipt and Plendi’s data entry staff put the data into a personal online receipt manager, where both the image and transaction details – vendor, date, currency, net, VAT and total – are permanently stored.

    It’s similar to other receipt online lockers but shuns OCR for the flexibility of using human labour. That comes at a cost, of course. The service is subscription-based, costing from €39.95 per year.

    To that end, Fergal Murray, Plendi CEO, says that in 4 months the company has expanded to 20 countries, with the new investment penned to further develop Plendi’s technology and more widely market the service.

    A BlackBerry app will be released in April 2011, says Plendi, which seems like a natural fit for a business-oriented service. Competitors include Expensify and Expensecloud.

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