BUSINESS STRATEGY

Invoice2go, A Leader in Accounts Receivable Software for Small Businesses, Will Be Acquired by Bill.Com.

Invoice2go | July 21, 2021

Bill.com announced today that it has agreed to buy Invoice2go for $625 million in stock and cash. Bill.com is a leading provider of cloud-based software for small and medium-sized businesses that simplifies, digitizes, and automates complex back-office financial operations (SMBs). Invoice2go is a leading provider of mobile-first accounts receivable (AR) software that enables small businesses and freelancers to expand their client base, manage invoicing and payments, build their brand, and much more. From offices in Sydney, Australia, and Palo Alto, California, Invoice2go serves a large global customer base of small businesses.

The acquisition will strengthen Bill.com's current accounts receivable offering and contribute to the company's mission of making it simple to connect and do business. Through mobile and desktop solutions, Invoice2go's AR solution enables businesses to engage and interact with their customers, generate professional invoices, and simplify their AR operations. With electronic payments and Bill.com's platform and payments expertise, there is a significant opportunity to help businesses get paid faster and more conveniently.

Details Regarding the Proposed Acquisition
Both the Invoice2go and Bill.com Boards of Directors have approved the transaction. However, subject to regulatory approvals and other customary closing conditions, it is expected to close by the end of this calendar year.

Bill.com will pay approximately $625 million for Invoice2go (75 percent in Bill.com Common Stock and 25 percent in cash), subject to customary adjustments for such transactions.

About Bill.com
Bill.com is a leading cloud-based software provider for small and medium-sized businesses that simplifies, digitizes, and automates complex back-office financial operations. The Bill.com platform is used by customers to manage end-to-end financial workflows and process payments. The Bill.com AI-powered financial software platform connects businesses with their suppliers and clients. It aids in the management of cash inflows and outflows. The company works with several of the largest financial institutions in the United States, as well as the majority of the top 100 accounting firms and popular accounting software providers. The company's headquarters are in San Jose, California.

About Invoice2go
Invoice2go is a technology company that provides simple tools to freelancers and small businesses to help them with their day-to-day workflow. Users can use our software to expand their client base, manage to invoice and payments, maintain financial wellness, build their brand, and much more.

Spotlight

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Other News
FINANCE

Velocity Financial, Inc. Acquires Majority Interest in Century Health & Housing Capital

Velocity Financial, Inc | December 29, 2021

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INDUSTRY OUTLOOK

TTG Imaging Solutions Announces Acquisition by Sentinel Capital Partners

Sentinel Capital Partners | December 28, 2021

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TECHNOLOGY

Aryaka Launches Accelerate Global Partner Program

Aryaka | January 28, 2022

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FINANCE

Slice Adds Remodeling Contractors to Small Business General Liability Insurance Coverage

Slice | April 04, 2022

Slice Labs Inc. (Slice), a technology company with the first on-demand insurance platform, announced the addition of remodeling contractors to the covered classes under the AERO Insurance brand. Agents can now quote, bind and issue for 70 different classes in 42 states + D.C. In the fall of 2021, Slice and Appalachian Underwriters partnered on the development and distribution of Contractors General Liability Insurance via the new brand AERO Insurance. Data from the first quarter of 2022 continues to show tremendous growth with 46% month-over-month growth. “With remodelers being such a large group of the contractors industry, we’re very pleased to offer coverage. Not only do we want agents to have the best digital experience, we want them to be able to have access to the widest set of coverage, including hard to place coverage.” Tim Atta, founder and CEO of Slice Labs About Slice Labs Slice Labs Inc. is building the future of insurance by enabling insurers, MGAs, and technology platforms to build intelligent and intuitive, on-demand digital insurance products via Slice’s cloud-based platform. Founded in 2015 and headquartered in New York City, Slice has been consistently recognized as an insurance and technology leader by industry publications, awards, and Tier 1 publications. About Appalachian Underwriters, Inc Appalachian Underwriters, Inc. (AUI) offers a leading insurance wholesale brokerage outlet for agents looking to bring their clients a broad selection of quality products. AUI is a Nationwide MGA that specializes in Workers'​ Compensation, Commercial Specialty, and Personal Lines products. The company also offers a brokerage unit that expands their product offering beyond their Managed Programs and allows them to place large specialized risks. AUI’s “one–stop” approach affords the convenience of dealing with one sales and administration staff, while gaining access to a wide range of high quality companies. Appalachian Underwriters is a wholly owned subsidiary of Acrisure.

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Spotlight

Google and Amazon are well poised to enter the small business lending arena, Karen Mills, former U.S. small business administrator, told CNBC. About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

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