Bill.com has raised $88 million in a funding round led by Franklin Templeton. The funding announcement coincided with details of Bill.com’s to offer Mastercard virtual cards as an automated payment tool..

Mastercard was one of the participating investors. "Our goal to enable automated electronic disbursements and collections is completely aligned with Mastercard’s vision of a world beyond cash and checks,” Bora Chung, Bill.com's SVP of product, said in a prepared statement. Other investors participating in the funding include Fidelity Investments Canada ULC, Kayne Anderson Rudnick, Temasek, Cross Creek and FLEETCOR.  In its announcement, the company did not discuss the use of proceeds, although it did say Bill.comis positioned to scale …”

Last modified on Wednesday, 03 April 2019
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