Stripe to Acquire Payments Reconciliation Solution Provider Recko

Stripe, a provider of payment services, recently announced that it will acquire Recko, a leading provider of payments reconciliation software, to help internet businesses automate payments reconciliation.

Founded in 2017, Recko has grown significantly and currently counts leading internet businesses including Deliveroo, Meesho, PharmEasy, and more as customers.

Payments reconciliation is an accounting process that compares two or more sets of records to confirm accuracy. Finance teams perform reconciliation to uncover discrepancies, avoid incorrect accounting, and understand a company’s financial health at a point in time.

Recko automates key steps of reconciliation to relieve finance teams of a tedious and time-consuming process. The addition of Recko will provide businesses on Stripe a comprehensive way to track their financial health.

The acquisition of Recko is the latest milestone in Stripe’s expansion beyond payments acceptance, bringing millions of users another tool to manage and grow their revenue alongside Stripe Revenue Recognition, Stripe Billing, Stripe Invoicing, and more.

“Joining Stripe is a perfect next chapter for Recko, and we can’t wait to help grow the GDP of the internet by removing the burden of reconciliation complexity,” commented Saurya Prakash Sinha, CEO and co-founder of Recko.