Bill.com Completes Acquisition of Invoice2go
SAN JOSE, Calif .– (COMMERCIAL THREAD) – Bill.com (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes and automates complex back-office financial operations for small and medium-sized businesses (SMBs), announced today have completed the acquisition of Invoice2go, a leading provider of mobile accounts receivable (AR) software.
“We are delighted to welcome the Invoice2go team to Bill.com,” said René Lacerte, CEO and Founder of Bill.com. “Together, we can advance our accounts receivable offering faster and accelerate our innovation agenda for small businesses. Invoice2go has a phenomenal mobile-centric solution that makes it easy for businesses to interact with customers, develop deals, send invoices, and get paid faster.
“We see a unique value in having strong Accounts Payable and Accounts Receivable solutions on a single platform, which allows customers to have visibility into incoming and outgoing payments, providing more control. in managing their cash flow. Thanks to the expertise in accounts receivable and the international footprint brought by the Invoice2go team, we will accelerate our vision of being the one-stop solution for businesses to transform their financial operations, ”concluded Mr. Lacerte.
“We are delighted to join Bill.com. We have long admired the company’s dedication to serving SMEs and helping them on their digital transformation journeys, ”said Mark Lenhard, CEO of Invoice2go. “With Bill.com’s payments expertise, extensive network and strong go-to-market capabilities combined with the capabilities of Invoice2go products, we can make it easier for businesses to get paid quickly and electronically even more easily. . ”
The acquisition will enhance Bill.com’s current accounts receivable offering and support Bill.com’s mission to simplify connection and business.
“As a freelance it’s just me, so I spend a lot of time running the business behind the scenes. Having Invoice2go has already been very helpful, and I’m glad to hear that they can provide me with even more support by joining Bill.com. This will be especially useful if I can manage my business expenses as well as my income within a single platform. – Madeleine Nance, small business owner
“I have been a long-time customer of Invoice2go and they have been a great resource for my business for years. Even as a small business they have provided me with great features and great customer service, but now joining forces with Bill.com I look forward to seeing many new features and benefits for customers. like me. – Matt Cameron, Cameron Photography
“It’s exciting to hear that Bill.com has partnered with Invoice2go to help small businesses run a more efficient back office. This acquisition also complements Bill.com’s recent purchase of Divvy, which integrates expense management into Bill.com’s platform and solutions. Together, these brands make back office management easier for small businesses. “- Nick Pasquarosa, Founder and CEO of Bookkeeper360
“As a company, we rely on our technology partners to help us provide the best service to our customers. Having Bill.com, Divvy and Invoice2go, three robust solutions in a trusted partner like Bill.com, is ideal. This is what the market needs, and I’m not surprised that Bill.com is the only one answering it. – Larry Kammerer, Managing Partner, Outsourced Finance and Accounting, Moss Adams
Bill.com completed the acquisition of Invoice2go for approximately $ 625 million (75% in Bill.com shares and 25% in cash). Invoice2go shareholders received approximately 2 million Bill.com shares based on a 20-day average closing price of $ 237.32, which we intend to record promptly on Form S- 3 for resale and Form S-8 as part of the supported options.
Bill.com intends to provide a financial update including Invoice2go in its regular call for fiscal first quarter results.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements relating to expectations, plans and prospects, including expectations regarding the benefits that will flow from this transaction. These forward-looking statements are based on the current expectations and beliefs of Bill.com management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. . statements, including, without limitation, risks relating to: Bill.com’s ability to successfully integrate Invoice2go and its recently acquired Divvy business, the effect of the transaction on Bill.com or Invoice2go’s ability to retain key personnel and maintain relationships with customers, suppliers and others, the outcome of any legal proceedings relating to the transaction and competitive pressures in the markets in which Bill.com and Invoice2go operate. All forward-looking statements contained in this press release are based on information available to the Company as of the date hereof, and Bill.com disclaims any obligation to update these forward-looking statements.
Bill.com is a leading provider of cloud-based software that simplifies, digitizes and automates complex back-office financial operations for small and medium-sized businesses. Customers use the Bill.com platform to manage end-to-end financial workflows and to process payments. The AI-powered Bill.com financial software platform creates connections between businesses and their suppliers and customers. It is used to manage cash inflows and outflows. The company partners with many of America’s largest financial institutions, the majority of America’s 100 largest accounting firms, and popular accounting software vendors. Bill.com is headquartered in San Jose, California. For more information visit www.bill.com.
Invoice2go is a technology company that provides freelancers and small businesses with simple tools that simplify their daily workflow. Our software enables users to grow their customer base, manage billing and payments, maintain financial well-being, grow their brand and more. To create a free account, go to https://invoice.2go.com, or download from the Apple App Store or Google Play.