Business payments platform Bill.com has filed for an IPO on the New York Stock Exchange in a bid to raise $100 million in capital.
Bill.com hit the $1 billion valuation mark in April thanks to an $88 million funding round led by Franklin Templeton with participation from Mastercard and Fidelity Investments Canada.
Bill.com targets the small and midsize business segment that is still heavily reliant on cheques and, the firm argues, is ripe for disruption.
It has built up a network of more than three million members paying and getting paid with its technology and manages more than $60 billion in annual payment volume.
In its SEC filing, the company said that it had over 81,000 customers using its platform.
Underwriters for its planned offering include Goldman Sachs, BofA Securities, Jeffries and William Blair, among others. Pricing terms have not yet been disclosed. It will trade on the New York Stock Exchange under the ticker symbol “BILL.”