The American startup Bill.com has raised 38 million dollars (28 million euros) from a large panel of investors dominated by Scale Venture Partners, a fund dedicated to technological players in SaaS (Software as a Service), Cloud and mobile. This new round of funding brings to 80 million dollars (59 million euros) the total amount raised since its creation in 2006.
Proof that the payment, billing and accounting integration solution developed by the American company is of interest to the banking and payments giants, including Bank of America and American Express among the new investors. “We like to invest in companies that take complex issues to make them easy,” said Rory O’Driscoll of Scale Venture Partners.
With more than 275,000 users, Bill.com manages more than 10 million invoices per year with a total value of $ 12 billion (8.9 billion euros). Its users can in particular receive and pay directly on its platform invoices received electronically (email, scanned copies, etc.), previously validated by an internal manager of the client organization, thus allowing global archiving. The product “allows [aux clients] to have direct control over the cash flow which is the cornerstone of any business, ”adds Mr. O’Driscoll.
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