back Back

Bill.com to acquire mobile-first AR leader Invoice2go for $625 mn

By Pavithra R

July 20, 2021

  • America
  • Bill
Share

Bill.com to acquire mobile-first AR leader Invoice2go for $625 mnBill.com, a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses (SMBs) has announced signing a definitive agreement to acquire Invoice2go in a stock and cash transaction valued at approximately $625 mn.

Founded in 2002, Invoice2go is a leading, mobile-first accounts receivable (AR) software provider that empowers SMBs and freelancers to grow their client base, manage invoicing and payments, build their brand, and more. With offices in Sydney, Australia and Palo Alto, California, Invoice2go serves a large global customer base of small businesses.

“We are investing to accelerate the adoption of our accounts receivable offering. The acquisition of Invoice2go will bring a leading product and a very talented team to Bill.com. It supports our strategy to invest in our platform to be a one-stop shop solution for businesses to transform their financial operations, make and receive payments, and manage their cash flow. Invoice2go’s international team and customer base will enable us to serve more businesses around the globe,” said René Lacerte, Bill.com CEO and Founder.

The acquisition is expected to enhance Bill.com’s current AR offering and supports Bill.com’s mission to make it simple to connect and do business. Invoice2go’s AR solution makes it easy for businesses to engage and interact with their customers, generate professional invoices, and simplify their AR operations through mobile and desktop solutions. Combined with Bill.com’s platform and payments expertise, the acquisition marks a significant opportunity to help businesses get paid faster and more conveniently with electronic payments.

“Most small business transactions today are made with paper checks. Yet we know from our customers that there is strong momentum to digitally transform and adopt e-payments. Our payments expertise and go-to-market capabilities combined with Invoice2go’s product capabilities can make it even easier for businesses to get paid quickly and electronically. Between Bill.com and Invoice2go, there are billions of dollars of invoices being sent annually that can be enabled for electronic payments,” added Mr. Lacerte.

“We are thrilled to join forces with Bill.com. Combining Bill.com’s market-leading payments platform and broad market reach with Invoice2go’s deep AR expertise provides a unique opportunity to offer SMBs and freelancers a powerful platform to streamline their day-to-day financial operations and control their cash flow. I am equally excited for employees of both organizations who share a culture that prioritizes delivering innovation and exceptional customer value for all small business owners,” said Mark Lenhard, CEO of Invoice2go.

The transaction has been approved by the Boards of Directors of both Invoice2go and Bill.com, and is expected to close by the end of the year. Recently, Bill.com acquired spend management leader Divvy for $2.5 bn.

Previous Article

July 20, 2021

Sopra Banking Software welcomes Belgian app Cake to its marketplace

Read More
Next Article

July 20, 2021

Paypal increases purchase limits for cryptocurrency

Read More










IBSi Daily News Analysis

December 06, 2022

America

Why SMBs can’t switch payment providers despite desire  

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

December 06, 2022

Ontop selects ThetaRay’s SONAR AML solution to detect financial crime threats

Read More

December 06, 2022

Wizz Air forms payments partnership with Worldline

Read More

December 06, 2022

Ajman Bank announces strategic partnership with KMMRCE Pay

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022