What is Bill.com? Bill.com Review

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Bill.com processes over $52 billion in payments annually, with 3 million members paying and getting paid through our network. We are the preferred solution for over 50 of the top 100 accounting firms and a trusted partner for 4 of the top 10 U.S. banks.

Advantages

Bill.com partners with leading accounting software Quickbooks, Xero, NetSuite, Intacct and more to ensure there is no double entry when using Bill.com.

Bill.com eliminates the hassles associated with business bill paying, saving you 2-3x the time compared to standard paper methods.

Wish Platform

One of the ways to receive payments on Wish is through Bill.com ACH. There are no set-up fees or monthly fees to set up Bill.com ACH, and merchants only pay a $0.49 processing fee for each electronic payment, unlike other credit card service providers that charge a percentage fee. However, you must have a US bank account to use this payment method.

Function

Bill.com is not only for paying bills, but also for paying salaries to independent contractors (non-official employees). Users can use its app on iOS or Android, or visit its website directly. Its interface will tell you which bills have been received, which have been confirmed or paid, and which bills are overdue.

Bill.com charges customers a monthly subscription fee for its SaaS service, which ranges from $29 to $100. It also makes money by charging a handling fee.

Financing

In December 2011, Bill.com raised $15.5 million in its fourth round of financing. This round of financing was initiated by new investor Financial Partners Fund, a branch of Citibank's investment consulting department. Participants in this round of investment also included venture capital institutions DCM, Emergence Capital Partners, August Capital, JIFV Capital, and Total Technology Ventures, which were previous investors in Bill.com.

In November 2013, Bill received $38 million in financing, led by a new investment company, Scale Venture Partners. Other investors in this round of financing include Bank of America, American Express, Fifth Third Bank, CheckFree founder Pete Kight, and Commerce Ventures.

In October 2017, Bill.com announced that it had received US$100 million in financing. This round of financing was jointly led by JPMorgan Chase and Temasek, and investors included August Capital, Scale Ventures, Napier Park, DCM, Icon Ventures and Emergence Capital.

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In September 2017, JPMorgan Chase announced that it was partnering with fintech company Bill.com to simplify and speed up business payments and accounting.

In July 2018, Bill.com launched International Business Payments, enabling customers to make electronic payments in U.S. dollars or in 24 local currencies to suppliers in more than 40 countries, including India, China and the Eurozone.

As of July 30, 2019, Bill.com had processed 19.86 million payments with a payment amount of US$71.2 billion.

References

• 1. Bill.com, a corporate bill payment website, received $15.5 million in venture capital: NetEase Technology [cited on 2011-12-07T16:00:00.000Z]
• 2. Bill.com: A rising enterprise payment unicorn || TOB foreign unicorn benchmark: Sohu [cited on 2020-01-15T16:00:00.000Z]
• 3. Bill.com development status: official website [reference date 2018-08-12T16:00:00.000Z]