Palo Alto based business payment software company has raised $88m in venture funding led by Franklin Templeton at a valuation of more than $1bn.
The investment in Bill.com comes at a time when small businesses are in the spotlight. With traditional financial services companies looking for new avenues of growth they’re turning their attention to small businesses. At the same time, fintechs are going after those businesses, raising a lot of capital along the way. Take Brex, the provider of a credit card for startups, as one example. In January it raised $125 million in venture funding, propelling the company into unicorn status with a $1.1 billion valuation