Bill, a San Jose, CA-based provider of financial automation software, acquired Finmark, a Raleigh, NC-based financial planning software provider.
The transaction has been approved by the Boards of Directors of both Finmark and BILL, and is expected to close by the end of this calendar year, subject to customary closing conditions. Terms of the acquisition were not disclosed.
With the acquisition, Bill will add a planning and cash flow analytics tool for SMBs and brings a talented team to it.
Led by Rami Essaid, CEO, Finmark provides a strategic finance software platform for small to mid-sized companies to save time on reporting through automation, turn insights into decisions, and analyze their businesses holistically. Accounting firms also use Finmark’s software to automate many of the processes involved in providing additional strategic client advisory services, including forecasting and cash flow management.
BILL is a company focused on financial automation software for small and midsize businesses. Hundreds of thousands of businesses use its solutions to manage financial workflows, including payables, receivables, and spend and expense management. With BILL, businesses are connected to a network of millions of members, so they can pay or get paid faster. It is a partner of U.S. financial institutions, accounting firms, and accounting software providers. BILL is headquartered in San Jose, California.