In a sequence led by Franklin Templeton, an innovator within the area of enterprise funds Invoice.com raised a further $ 88 million. The funding, which additionally concerned Mastercard Constancy Canada, FLEETCOR, Tamasek and others, brings Invoice.com's whole funding to $ 275 million and offers it a worth of over a million . billion .
"Invoice.com adjustments how funds are made within the SME market by defining a software program and fee software program platform for main SMEs within the business," stated President and founding father of the corporate, René Lacerte. "Companies have issue with advanced, guide, paper-based, and never at all times safe, fee processes. Our cloud fee platform is altering all that. We automate fee processes and enterprise processes, leading to important efficiencies and value financial savings. "
Along with the announcement of funding, Invoice.com revealed that he had teamed up along with his compatriot Finovate alum Mastercard to supply his digital playing cards as a part of Invoice.com's automated AP resolution for SMEs. This initiative is a part of Invoice.com's efforts to additional digitize the fee course of, leveraging digital card know-how to make funds extra available to cardholders, and to make sure correct matching between funds and receivables.
Ginger Siegel, MasterCard's small enterprise chief for North America, highlighted the advantages of digital playing cards and praised the collaboration with Invoice.com as a method to enhance the variety of bank cards. adoption of know-how. "Digital playing cards are safer and supply transparency on money inflows and outflows, which is essential for the expansion of all small companies," stated Siegel. "By means of the partnership with Invoice.com, we are able to provide the advantages of digital playing cards to a whole lot of hundreds of small companies in the USA."
Invoice.com launched the Cashview characteristic of its platform at FinovateSpring 2012. Headquartered in Palo Alto, Calif., The corporate lately made headlines in monetary know-how by saying the elimination of switch charges. digital small companies utilizing its know-how of worldwide funds. Earlier this yr, Invoice.com introduced a partnership with American Categorical to supply a brand new resolution to simplify provider funds, Vendor Pay.
Based in 2006, Invoice.com manages over $ 60 billion in annual funds on a community of three million members and has greater than 70 of the highest 100 US accounting companies amongst its shoppers. Invoice.com can also be a accomplice of main accounting software program distributors comparable to QuickBooks and Xero and is the popular digital fee resolution supplier for CPA.com.