Smart Receipts

What Smart Receipts does

Smart Receipts is a receipt scanning and expense tracking application provided by Smart Expenses Inc., a privately held US corporation headquartered in New York. The application is available across iOS, Android, and Web platforms and serves individuals, consultants, and small business owners who need to digitize paper and digital receipts, organize expenses, track mileage, and generate professional expense reports in PDF, CSV, and ZIP formats. The company reports a user base of over 500,000 people worldwide and more than 18,200 reviews across app stores. Founded in 2012, the product was designed by a traveling consultant and is currently operated with a lean team of 1-10 employees under founder Will Baumann.

The product is built on a mobile-first architecture with AI-powered OCR at its functional core. Smart Receipts relies on third-party subprocessors—Taggun.io for OCR processing, and OpenAI and Anthropic for AI-assisted receipt data extraction—to automatically identify merchant names, dates, totals, taxes, and payment methods from receipt images. Additional functionality includes GPS-enabled mileage tracking, email receipt forwarding (added in January 2026), multi-currency support with automatic conversion, bank account connectivity through Plaid and MX Technologies (US and Canada), and automatic cloud backups hosted on AWS infrastructure. The Version 5 platform released in 2025 introduced a new technology stack with cross-device cloud synchronization, and a web portal at smartreceipts.co/dashboard provides a PRO and MAX subscriber management surface outside the mobile apps.

Revenue is generated through a four-tier freemium subscription model (Free, LITE, PRO, MAX) with region-based pricing and monthly billing, supplemented by advertising on the free mobile tier delivered through Google Ads. Subscription purchases are processed via the Apple App Store, Google Play Store, or the web portal. The company is bootstrapped with no disclosed venture capital funding or external institutional investors. A related product, Smart Invoices (smartinvoices.app), is cross-promoted on the company's website, forming a modest two-product ecosystem around small business financial workflows.

Name

Smart Receipts

Legal name

Smart Expenses Inc.

Website

https://smartreceipts.co

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Smart Receipts is an AI-powered receipt scanning and expense tracking app available on iOS, Android, and Web, serving over 500,000 individual users, consultants, and small business owners with OCR receipt capture, mileage logging, and professional expense report generation.

Ownership category

akta.pro rank

Product category

Expense Management Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro industry

PRIMARYFSAMAJAK

Lockbox, Check Scanning & Paper Bill Processing

Financial & Insurance/Payments & Transaction Processing/Bill Pay & Presentment (EBPP)

SECONDARYFSAMAJAL

Payment Posting, Reconciliation & Cash Application for Bills

Financial & Insurance/Payments & Transaction Processing/Bill Pay & Presentment (EBPP)

Keywords

• Receipt scanning software
• Expense tracking app
• Mileage tracking tools
• OCR receipt management
• Expense report generation

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Subscription Revenue: Four-tier subscription model (Free, LITE, PRO, MAX) with region-based pricing. Premium tiers unlock advanced features including ad-free experience, automatic cloud backups, receipt scanning, email forwarding, web portal access, automatic currency conversion, bank connections, and multi-receipt import. A free 3-day trial is available through the mobile app.
2. Advertising Revenue: The free version of Smart Receipts on mobile devices displays advertising provided by third-party advertising partner Google Ads. Subscribers to any paid plan receive an ad-free experience.
3. Freemium Model: Free tier provides core features including manual receipt creation, distance logging, basic report customization, organizing receipts by category, and exporting reports in PDF, CSV, or ZIP format. This drives user acquisition for upselling to premium tiers.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Smart Receipts is a receipt scanner and expense tracker available on iOS, Android, and Web. It uses AI-powered OCR to automatically extract merchant name, date, total amount, tax, and payment method from paper and digital receipts, and generates customizable expense reports in PDF, CSV, and ZIP formats. The app also provides automatic cloud backups, email receipt forwarding, GPS-based mileage tracking, multi-currency conversion, and bank account connections via Plaid and MX.

Product overview

Smart Receipts offers a unified expense management platform consisting of the core Smart Receipts product (receipt scanner and expense tracker) and the related Smart Invoices product. The main Smart Receipts app enables users to scan receipts using AI-powered OCR, track expenses and mileage, organize receipts into reports, and export data in PDF, CSV, and ZIP formats. It is available across iOS, Android, and Web platforms with cloud synchronization. The ecosystem also includes Smart Invoices as a complementary invoicing solution.

Differentiator

Problem solved

Functional benefit

Brands

• Smart Invoices: A related product offering for invoicing services available at smartinvoices.app

Products and services

• Smart Receipts AI-powered receipt scanner and expense tracker that enables users to scan paper and digital receipts, organize expenses, track mileage via GPS, and generate professional expense reports in PDF, CSV, and ZIP formats. Available on iOS, Android, and Web with cross-device cloud sync.
• Smart Invoices Invoice management product offered as a separate application from the same operator (Smart Expenses Inc.), available at smartinvoices.app as a complementary invoicing solution to the Smart Receipts ecosystem.

Quantifiable outcome

• Save hours each week on expense management
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability4 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Plaid Inc.coreTechnology or IntegrationBank connection provider used by Smart Receipts to gather financial data from financial institutions when users choose to connect their bank accounts. Plaid accesses and transmits personal and financial information on behalf of Smart Receipts to enable transaction import and expense categorization.
• MX Technologies, Inc.coreTechnology or IntegrationAlternative bank connection provider used by Smart Receipts depending on connection flow or integration offered. Similar to Plaid, MX gathers financial data from financial institutions for transaction import and expense tracking purposes.
• Taggun.iocoreTechnology or IntegrationOCR (Optical Character Recognition) and related processing service provider used by Smart Receipts for receipt scanning functionality. Taggun processes receipt images as a subprocessor to extract text and data from receipts.
• OpenAIcoreTechnology or IntegrationAI processing provider used by Smart Receipts for OCR and AI-assisted processing of receipts. OpenAI processes receipt images as a subprocessor to extract key data fields.
• AnthropiccoreTechnology or IntegrationAI processing provider used by Smart Receipts for OCR and AI-assisted receipt processing. Anthropic processes receipt images as a subprocessor to return extracted fields and related results.
• Amazon Web Services (AWS)coreTechnology or IntegrationCloud infrastructure provider used by Smart Receipts for data storage when users enable cloud sync. AWS hosts cloud storage and related servers for sync, backup, and cross-device access functionality. Data is stored and processed using AWS infrastructure in the United States.
• Google AdsminorGTM or Marketing PartnerThird-party advertising partner providing ads in the free version of Smart Receipts mobile app. Google Ads provides, targets, and serves advertisements. Smart Receipts does not have direct control over ad content, appearance, or targeting.
• Smart InvoicesminorGTM or Marketing PartnerRelated product from the same company (Smart Expenses Inc.) for invoice generation. Cross-promoted on the Smart Receipts website at smartinvoices.app.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Expensify: Public receipt-scanning and expense management platform with OCR, mobile capture, and corporate card integration. Directly comparable on core product (receipt scanning, expense reports, reimbursements) and target SMB/customer base, but operates at significantly larger scale with sales-led enterprise motion.
• Dext (formerly Receipt Bank): Receipt and invoice data capture tool serving bookkeepers and accountants. Highly comparable OCR-led receipt capture flow and SMB/accountant target segment, though Dext leans more accountant-channel than direct-to-consumer.
• Hurdlr: Mobile expense and mileage tracker targeting freelancers, gig workers, and small businesses. Closely matches Smart Receipts' mileage tracking, bank connection, and self-employed tax-prep use cases with a similar subscription model.
• Shoeboxed: Receipt scanning and expense management service with both digital OCR and mailed-in physical receipt processing. Comparable in receipt-capture approach and small-business/individual target user, though with a hybrid physical/digital model.

Emerging players

• Keeper (Stessa/Found): Tax and bookkeeping app for freelancers and self-employed users with expense categorization and receipt capture. Overlaps on the individual/self-employed use case that Smart Receipts targets, though the primary product is tax filing rather than ongoing expense management.
• Itemize: Receipt and expense capture service for consumers and small businesses using OCR and human verification. Comparable receipt-capture technology approach and SMB/individual target, positioned in a similar niche as Smart Receipts.
• Abacus: Real-time expense management and receipt capture platform with corporate-card integration and reimbursement workflows. Comparable receipt scanning and expense reporting functionality, but historically more enterprise-oriented than Smart Receipts' consumer/SMB focus.

Broad incumbents

• QuickBooks Self-Employed: Intuit's self-employed product offering receipt capture, mileage tracking, and quarterly tax estimation. Comparable in target segment and feature set, bundled into the broader Intuit ecosystem with cross-sell into full QuickBooks.
• FreshBooks: Cloud accounting platform for small businesses and freelancers with expense tracking and receipt capture. Overlaps on SMB/consultant target segment and expense-management workflow, though primarily invoicing-led.
• Wave Accounting: Free accounting and invoicing platform for small businesses and sole proprietors with expense and receipt features. Comparable target user (micro/SMB owners) but free ad-supported model differs from Smart Receipts' subscription tiers.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/smartreceipts

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Smart Receipts