It will be especially useful if I can manage my business expenses along with my revenue within a single platform.” - Madeleine Nance, Small Business Owner Having Invoice2go has already been so helpful, and I’m excited to hear they can offer me even more support by joining. “As a freelancer, it’s just me - so I spend a lot of my time on behind-the scenes business management. The acquisition will enhance ’s current accounts receivable offering and supports ’s mission to make it simple to connect and do business. “With ’s payments expertise, large network, and strong go-to-market capabilities combined with Invoice2go’s product capabilities, we can make it even easier for businesses to get paid quickly and electronically.” We have long-admired the company’s dedication to serving SMBs and helping them with their digital transformation journeys,” said Mark Lenhard, CEO of Invoice2go. With the accounts receivable expertise and international footprint that the Invoice2go team brings, we will accelerate our vision to be the one-stop solution for businesses to transform their financial operations,” concluded Mr. “We see unique value in having strong payables and receivables solutions on one platform which enables customers to have visibility into payments coming and going, providing more control in managing their cash. Invoice2go has a phenomenal mobile-first solution that makes it easy for businesses to engage with their customers, develop bids, send invoices, and get paid faster.” “Together, we can more quickly advance our accounts receivable offering and accelerate our innovation agenda for small businesses. “We are thrilled to welcome the Invoice2go team to ,” said René Lacerte, CEO and Founder. Divvy, meanwhile, touted impressive numbers as part of its last funding round announcement, reporting that “it had reached $100 million in spend through its service in its first 18 months of business,” according to TechCrunch.Advances platform with leading mobile-first accounts receivable solutionĮxpands footprint to serve international marketsīill.com (NYSE:BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced today it has completed its acquisition of Invoice2go, a leading mobile-first accounts receivable (AR) software provider. Its performance as a public company has been mostly seen as a success since it debuted in 2019. That’s a bit irregular typically, public fintech companies have made a few acquisitions during its time as a private company.Īs of this morning, ’s market is a touch above $11 billion. Notably, does not seem to have made any other acquisitions (or at least no acquisitions worth noting by the press and private capital databases). If the sale of Divvy to was to go through, a number of well-known venture firms- New Enterprise Associates, Paypal Ventures, Insight Partners, Tiger Global Management and others-would be adding another, likely successful, exit to their portfolio. Forbes reported that, although the acquisition price is not known, has floated paying $2 billion or more for Divvy in past exploratory conversations. The startup, founded in 2016 by Alex Bean and Blake Murray, has raised $417.5 million across five publicly known funding rounds. The corporate expense management platform, as of today, is reportedly worth a pre-money valuation of $1.6 billion, according to Crunchbase. This article has been updated to reflect recent breaking newsĪccording to Forbes’ Eliza Haverstock and Alex Konrad, may announce its acquisition of Utah-based Divvy when it reports its first-quarter earnings tomorrow. 30, subject to regulatory approvals and closing conditions. The transaction is expected to close by the end of Sept. Our expanded platform will provide more automation and real-time information to SMBs, enabling them to make more informed decisions,” René Lacerte, CEO and Founder, said in a statement. “Customers have been asking us to help them with their spend management, and I am excited that together with Divvy, we can deliver on that ask, furthering our vision to transform SMB financial operations. will acquire Divvy for about $625 million in cash and $1.875 billion of. The acquisition will enable ’s offerings to be expanded to let businesses automatically manage accounts payable, accounts receivable and corporate spend. has entered into a definitive agreement to acquire Divvy in a stock and cash transaction valued at about $2.5 billion, according to a press release.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |