Share to linkedinBill.com, the business payments software company, raised $88 million in venture funding and announced a strategic partnership with Mastercard, capitalizing on investors interest in the small business market.
Bill.com serves the small and medium-sized marketplace with its Payment Management Platform which automates the payments process. The company has three million members, managing more than $60 billion a year. , the provider of a credit card for startups, as one example. In January it raised $125 million in venture funding, propelling the company into unicorn status with a $1.1 billion valuation.With paper checks still a mainstay of many small businesses it presents an opportunity for payment companies in particular. Lots of advances have taken place on the consumer side with the advent of digital and contactless payments but businesses are still beholden to the old way of doing business.