Thursday, February 12, 2015

Bill.com Banks $50M For SMB Payments

Palo Alto-based Bill.com, which operates a service to help small and medium sized business better manage accounts payable and accounts receivables, said this morning that it raised $50M in a finance round. The funding came from Silicon Valley Bank, along with DCM Ventures, Scale Venture Partners, August Capital, Napier Park Global Capital, American Express Ventures and Commerce Ventures. Bill.com says it has now raised over $100M. The company said the funding will go towards scaling its service, which lets businesses accept ACH, credit card, and Paypal payments online, all tied to a company's accounting system.