Bill.com Rakes in $38 Million in Series E Funding from Long List of Investors

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Bill.com, the company that brings online invoice, cashflow management, and bill pay solutions to its 275,000 users announced today that it raised $38 million in Series E funding.

Among the many investors in this round are:

    • American Express
    • August Capital
    • Bank of America
    • Fifth Third Capital
    • Peter Knight, founder of CheckFree (acquired by Fiserv in 2009)
    • Scale Venture Partners

This funding, combined with Bill.com’s previous rounds, brings the Palo Alto-based company’s total funding to over $70 million.

Bill.com, which manges more than 10 million bills per year worth more than $12 billion, will use the new installment to enhance its growing banking channel and accelerate its payments network.

Bill.com demonstrated its CashView product at FinovateSpring 2012.

Showing Our Age: A Look at FinovateAsia 2013 Demo Company Launch Timeline

At Finovate, we’ve seen how great innovation comes from companies of all ages. All we have to do is look at the Best of Show winners from FinovateAsia 2012. The founding dates of the winners ranged from 1858 (NAB, the parent company of UBank) to 2012 (SocietyOne).

We don’t know who will win Best of Show at FinovateAsia in Singapore this year, but looking at the launch date of the 37 companies taking the stage November 14, we found a 28-year spread. 

Here they are in reverse chronological order with funding amounts, if disclosed:

2013- 2012
  • BlueKite: 2013
    Total Funding: $1.5 million Seed funding
2011-2008
  • KlickEx: 2011
    Total Funding: $1.3 million
  • Mambu: 2011
    Total Funding: $2 million Series A

2007 or earlier
  • Yodlee: 1999
    Total Funding: $124 million
  • BehavioSec: 1998
    Total Funding: $2 million (€1.5 million)
  • Kofax: 1985
    Public LON: KFX

To learn more about each of these companies, check them out here and come see their live demos in Singapore on November 14.

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All numbers and funding information sourced from Crunchbase.com

Cloud Accounting Platform Xero Raises $150 Million from Investors and Shareholders

XeroLogo.jpgXero, a New Zealand-based company that creates cloud-based accounting software, has experienced a large growth spurt lately. Earlier this month, it officially launched in the U.S. and today it announced the largest installment of equity funding we’ve seen for a Finovate alum thus far.

The $150 million (NZ $180 million) in funding comes from a range of investors and existing shareholders. When combined with last year’s $49 million from Peter Thiel and Matrix Partners, and other previous rounds, the company’s total funding amounts to $230 million.

In the video below, CEO Rod Drury explains the funding and how it plans to use the cash.

Xero demoed at FinovateSpring 2011 where it debuted its Business Identification product.

Wipit Brings in Series A Financing from Core Innovation Capital

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Mobile wallet provider Wipit announced last week that it received an undisclosed amount in Series A funding.

Wipit’s major offering is a mobile wallet service, which, in a combined effort with Boost Mobile, was launched 

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specifically to serve the underbanked community. Any user with a mobile phone has access to the mobile wallet– even if they don’t have a bank account. 

Since Core Innovation Capital focuses on supporting innovations that serve the underbanked community, Wipit is a good candidate for the funding.

The California-based company plans to use this Series A round to expand consumer adoption.

To learn more about Wipit, watch its FinovateSpring 2012 demo.

Jingit Raises $7 Million

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Jingit, the startup that pays users to watch ads online, announced last week that it raised $7 million from undisclosed investors.

This comes after the $3.5 million round the Minnesota-based company raised last year, bringing the total investment amount to over $10 million.

Jingit demoed at FinovateFall 2011, where it announced that U.S. Bank will provide the Jingit debit card that users can swipe to spend the cash they earned watching ads. No word on the status of that trial.

To learn more about Jingit, watch its FinovateFall 2011 demo.