Biller Genie, a Miami, FL-based supplier of an AR automation and B2B bills platform, raised $5M in Sequence A investment.
The spherical was once led via Henry Helgeson, who will sign up for the Board of Administrators.
The corporate intends to make use of the price range to additional product growth, automate onboarding, extend distribution channels, and broaden new gear together with APIs.
Led via CEO Thomas Aronica, and President Garima Shah, Biller Genie is a cloud-based accounts receivable automation and built-in B2B bills platform that automates invoice presentment, apply up, on-line bills, and reconciliation for small-and-mid-sized companies. The SaaS founded generation integrates with accounting device and all primary cost processing platforms, streamlining workflows for its subscribers whilst giving their shoppers a branded and frictionless checkout revel in. On reasonable, Biller Genie subscribers receives a commission as much as 15 days sooner, revel in a 40% in late invoices, and save 10-20 hours of administrative paintings a week.
With a present subscription base of one,500 small and mid-sized trade, the platform is these days managing over $3 billion in annual bill quantity. Biller Genie helps each and every primary cost supplier in the USA, together with Fiserv / First Knowledge, FIS / World, Heartland, Chase, Elavon, TSYS, and Worldpay, via its suite of gateway integrations, with connections to suppliers similar to USAePay, NMI, Paytrace, iCheckGateway, Settle for.Blue, Phoenix Controlled Networks, and extra.
Following its collaboration with PNC Service provider Products and services®, Biller Genie may be integrating to cost gateway supplier Tempus Applied sciences, obtained via PNC Financial institution in January 2021, to hook up with the financial institution’s present cost platforms – like Zelle, cord switch, computerized clearing space (ACH) and RTP Community. Moreover, Biller Genie was once just lately decided on via Newtek Industry Products and services Corp (Nasdaq: NEWT), an internally controlled trade construction corporate, to supply an built-in suite of branded AR gear for Newtek Financial institution’s depository and non-depository purchasers, matter to regulatory approvals of Newtek’s pending acquisition of the Nationwide Financial institution of New York Town.
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