Digital receipt software provider Paperless Receipts has acquired expenses management company Expenses Magic.
The move marks a further step in Paperless Receipts' expansion, following its recent announcement of a strategic partnership with payment gateway company Cardstream and the raising of £1.2 million in funding.
Paperless Receipts, which developed eReceipts software for retailers to issue electronic receipts direct to customers' cloud based accounts, says it intends investing further to make the app more intuitive and provide more functions.
Expense Magic, launched in early 2012, enables users to photograph their receipts via a mobile app and receive a monthly expense report, for a fee of £9.99 a month. All receipt images are stored in the cloud for a minimum of seven years to comply with HMRC requirements.