17 July 2018
Register today

Billtrust receives $4m financing

17 October 2006  |  994 views  |  0 Source: Billtrust

Billtrust, the leading provider of outsourced billing services, today announced that it has closed a $4 million round of venture capital investment provided by Edison Venture Fund.

Launched in 2001, Billtrust has grown rapidly to become a premier provider of billing services to companies throughout the United States. This investment will be used to enhance its innovative paper and electronic billing solutions while investing in its sales, marketing and customer service departments.

More than 150 companies rely on Billtrust's CompleteBilling Service to send their bills both through the mail and electronically via hosted web, email, and fax solutions. Billtrust clients typically save 20%-35% on their cost of billing immediately; with savings growing as Billtrust helps clients migrate to advanced electronic delivery.

"With triple digit growth each of the last four years, we decided the time was right to seek outside capital," said Flint Lane, CEO of Billtrust. "This financing will help us bring our message to a wider audience."

Edison Venture Fund, with $450 million under management, has deep experience in financial technology companies like Billtrust, having invested in twenty-two such companies. Chris Sugden, an Edison Partner will join Billtrust's Board of Directors. "Management is achieving impressive growth rates with a unique and capital efficient business model," stated Chris Sugden. "We like to invest in experienced management teams with a deep understanding of their industry and Billtrust fits this profile perfectly."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10406 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9380 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8742 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7747 views comments | 1 tweets | 5 linkedin

Featured job

Find your next job