In that arena, Bill said it has acquired Finmark, a financial planning tool for start-ups and SMBs for an undisclosed amount. Lacerte said it provides budgeting, forecasting and financial planning features and added it would be “especially useful to accountants” in running advisory practices. Bill reported a loss of $81.6 million for the most recently ended quarter, a 10 percent increase from $74.3 million a year ago. Revenue was up 94 percent to $292,9 million from $118.3 million in last year’s comparable period. Growth was accelerated by the operations of expense management software Divvy last year. Subscription fees hit $58.1 million, an increase of 57 percent year-over-year
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BILL EYES BIGGER BACK-OFFICE ROLE Featured
Bill, formerly Bill.com, is seeking a much bigger role in the back-office for small businesses. In this week’s webcast for earnings for the first quarter ended September, CEO Rene Lacerte talked about establishing the company products as “essential financial operations solutions” for SMBs.