Bill.com marked a win this week as it finalized its debut on the New York Stock Exchange under the ticker BILL. The business payments platform priced its shares at $22, which is higher than the previously anticipated $16 to $18 per share amount.

The raise equates to about a $216 million raise, which is more than double the $100 million figure we reported last month, when pricing terms had not yet been shared publicly. Bill.com’s market capitalization now sits at $1.56 billion.

There has been plenty of positivity about Bill.com’s public debut, including the Wall Street Journal’s article about the IPO being “worth the tab” and Forbes’ discussion about Bill.com’s stock “taking off on IPO day.”

Before today’s public debut, the California-based company had raised $347 million in 11 rounds of funding from investors including Franklin Templeton, JPMorgan Chase, Union Square Ventures, CapitalG (Google Capital), Microsoft, Baidu, Qualcomm, Fidelity, Silicon Valley Bank, American Express, and more.

With 500 employees in offices across Palo Alto, California and Houston, Texas, Bill.com helps businesses manage accounts payables and receivables with online billpay, custom invoicing, document storage, collaboration tools, and more. The company’s platform moves $70 billion and 45 million documents on an annual basis and facilitates 8,000+ customer messages per day.

At the time of publication, Bill.com’s stock price is up over 60% at $35.33 per share.

Business payments company Bill.com unveiled a new set of offerings for midmarket companies today. With the launch, the California-based company aims to help businesses automate their accounts payable and accounts receivable (AP/AR) functions to become more efficient.

“As companies scale, the advantages of AP and AR automation are magnified. Midsized companies can be in dire need of next-generation, end-to-end back office solutions that help them work smarter, faster and more efficiently,” said Bill.com CEO René Lacerte.

The new capabilities include:

• Bill.com purchase orders: syncs purchase orders directly from Oracle NetSuite and Sage Intacct into the Bill.com platform.
• Expanded international payments: increases coverage for cross-border payments to encompass 130+ countries and 106 currencies.
• Intelligent virtual assistant (IVA): leverages AI to set up payments and incorporate information directly into the required payment fields.
• Premium customer support: includes enhanced support service level options.

“These new offerings will provide insights for customers to act on and enable them to automate their AP/AR processes, thus saving significant time and money while greatly improving productivity,” added Lacerte.

Founded in 2006, Bill.com helps businesses manage accounts payables and receivables with online billpay, custom invoicing, document storage, collaboration tools, and more. At FinovateSpring 2012, Lacerte debuted the company’s CashView tools. Since then, Bill.com has grown to manage workflows and process payments. In fiscal year 2019, Bill.com processed over $70 billion for its network of three million members.

Business payments company Bill.com is helping small businesses pursue international objectives– now in even more corners of the globe. This week, the California-based company doubled its International Payments offering by building out support for more than 70 countries and 50 currencies.

“Historically, innovation in international payments has been geared towards consumers,” said John Flora, VP of Product at Bill.com. “The sharp rise of cross border business growth and global interactions is driving demand for our International Business Payments platform which enables SMBs to easily and seamlessly do business globally.”

Launched last July, International Payments allows companies to conduct business abroad with visibility and payments control on a single platform. The tool offers the option for businesses to exchange payments by using a wire transfer for increased speed and security. When paying vendors in local currencies, there is no wire transfer fee. For international wires sent in U.S. dollars the fee is $9.99. The company estimates that this, combined with its competitive exchange rates, saves businesses up to 32% of the cost of traditional overseas transactions.

Flora noted that the company is far from finished building out International Payments. “We plan to aggressively expand our international payment capabilities in the coming months,” he said. In fact, Bill.com’s business as a whole seems to be bustling lately. Since the beginning of this year, the company’s payment volume has increased by 124% while monthly transactions have grown by 135%.

Founded in 2006, Bill.com helps businesses manage accounts payables and receivables with online billpay, custom invoicing, document storage, collaboration tools, and more. At FinovateSpring 2012, CEO Renee Lacerte debuted the company’s CashView tools. Since then, Bill.com has grown to process more than $60 billion each year for its network of three million members.