Billtrust, which aims to streamline the invoice process of thousands of small businesses, recently raised $25m from Goldman Sachs and Bain Capital Ventures. The company will use the funds to increase marketing and expand into new domestic and international markets. Last year, the company surpassed 1m users, and processed invoices representing over $250b in receivables and over $7b in online payments.
The funding will enable Billtrust to continue its aggressive growth strategy and to pursue additional acquisitions. “We took time to find the right investment partners who can help our team grow strategically and deliver against our business goals. Both Goldman Sachs and Bain Capital Ventures share our vision to transform B2B invoicing and payments,” said Flint Lane, CEO and Founder of Billtrust.