$25billion funding secured
Billtrust, provider of outsourced billing services, has secured funding of $25billion from private equity firm Bain Capital Ventures in order to identify and acquire companies within the billing and payments industry.
Following a lengthy review process, Billtrust chose Bain Capital Ventures as its preferred investor and as part of the new relationship Bain’s managing partner Matt Harris is set to join Billtrust’s board of directors.
Harris believes the partnership with Billtrust will prove successful, adding: “As the world quickly moves from paper to electronic billing, there is incredible opportunity for an enterprise-focused service provider with the right balance of technology and customer facing methodology to be a leader in this space.”
This is the second outside funding in Billtrust following Edison Ventures earlier investment of £5million.
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