Funding for a Better Future in Digital Payments
Over the last eleven years, our team at Bill.com has worked tirelessly to make it easier for small business owners to get paid and make payments, and we’ve achieved our goal. As part of our commitment to always improve the customer experience, we just announced a partnership with JP Morgan Chase, the largest national bank, and on the heels of this announcement, we have even more good news.
Today, we’re announcing that we’ve raised $100 million in financing to simplify business payments. That brings the total amount we’ve raised to date to over $200 million. With this latest round of funding, we are going to do what no other fintech company has been able to do before: eliminate checks and paper from the business operating manual.
Eighty percent of all payments made by U.S. businesses today involve paper checks. That’s the exact opposite of consumer payments. Businesses deserve the same digital payment experience we have come to expect as consumers. With this additional capital, we will cross the chasm shifting digital payments from early adoption to major, widespread market acceptance.
There are many phases to a company and today we are embarking on a new one. I am extremely grateful to all of my employees, their hard work and dedication, which puts us in the position to both secure and deliver a game-changing solution. And I’m very thankful to have customers that motivate us to keep improving our product to redefine how businesses make payments and connect with customers, vendors, and employees.