Who Owns Bill.com Company?

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Who Owns Bill.com?

Understanding Bill.com's ownership is key to grasping its market strategy and influence. The company, now BILL Holdings, Inc., began as Cashboard, Inc. in April 2006, founded by René Lacerte to streamline business payments.

Bill.com's journey includes a significant IPO on December 12, 2019, fueling its expansion. The company is a major fintech player, processing approximately $285 billion in payment volume in fiscal year 2024 and serving nearly 494,800 customers as of June 2024.

As of July 2025, BILL Holdings, Inc. has a market capitalization of $4.74 billion USD. This makes it the 3101st most valuable company globally by market cap, according to CompaniesMarketCap. The company's total revenue for fiscal year 2024 reached $1.27 billion. Exploring its ownership reveals the influences shaping its growth and market standing, including its Bill.com Porter's Five Forces Analysis.

Bill.com was established in April 2006 by René Lacerte under the initial name Cashboard, Inc. Lacerte's motivation was to streamline payment processes for businesses. While specific early equity details are not public, the company secured early funding from venture capital firms.

Founding Vision René Lacerte founded Bill.com with the goal of simplifying business payment operations. His vision focused on creating an efficient platform for accounts payable and receivable.	Initial Funding The company received an initial seed round of funding, followed by a Series A round of approximately $8.5 million in 2007. This capital was vital for platform development and early growth.	Key Early Investors Prominent venture capital firms like Emergence Capital Partners and DCM Ventures led the early funding rounds. These investments provided the necessary resources for the company's inception.
Early Ownership Structure Specific details regarding initial equity splits or shareholding percentages at the company's founding are not publicly disclosed. Early ownership was influenced by the need to secure venture capital.	Founder's Role René Lacerte, as the founder, played a pivotal role in shaping the company's strategic direction. His leadership guided the early development and funding efforts.	Absence of Public Disputes There is no publicly available information concerning early ownership disputes, founder exits, or buy-sell agreements. The focus was on securing funding and building the platform.

The strategic distribution of control was essential for securing early-stage funding, which was critical for the development of the company's core accounts payable and receivable automation services. This approach allowed the founding team, led by Lacerte, to drive platform innovation and establish a foundation for future growth.

Founders and Early Ownership Dynamics

The initial phase of Bill.com's existence was characterized by the founder's vision and the critical role of early venture capital in its establishment. Understanding these early dynamics is key to grasping the company's ownership history.

• René Lacerte founded Bill.com in April 2006.
• The company was initially named Cashboard, Inc.
• Early funding rounds were crucial for platform development.
• Key investors included Emergence Capital Partners and DCM Ventures.
• The founder's vision guided the strategic distribution of control to secure funding.
• Details on specific early equity splits are not publicly available.
• No public information exists regarding early ownership disputes or founder exits.
• The company's early strategy focused on securing capital for growth and platform enhancement.

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Bill.com's journey to its current ownership structure began with its Initial Public Offering (IPO) on December 12, 2019, raising approximately $216 million. This event transitioned the company from private to public ownership, significantly altering its shareholder base and providing capital for future growth.

The ownership of Bill.com is predominantly held by institutional investors, reflecting its status as a publicly traded entity. These large investment firms play a crucial role in the company's financial landscape, influencing its direction through their significant shareholdings. Understanding who owns Bill.com involves looking at these major institutional players and the company's own leadership.

Key Stakeholders in Bill.com

Bill.com's ownership is spread across various investor types, with institutional investors holding the largest portion. The company's founder and CEO also maintains a significant stake.

• T. Rowe Price Group, Inc. is a major institutional holder with approximately 10.48% of the shares.
• The Vanguard Group, Inc., another significant institutional investor, owns about 10.13% of Bill.com stock.
• BlackRock, Inc. holds approximately 8.77% of the company's shares.
• René Lacerte, the CEO and Founder, owns 2.63% of the company, representing 2,710,283 shares.
• Other notable institutional shareholders include ER Collective Holdings, LLC (5.84%), Temasek Holdings (Private) Limited (3.61%), and State Street Global Advisors, Inc. (2.99%).

Strategic acquisitions have also shaped Bill.com's ownership structure. The acquisition of Divvy in June 2021, valued at approximately $2.5 billion, involved a substantial stock component, which would have led to the issuance of new shares and a slight dilution of existing stakes. Similarly, the September 2021 acquisition of Invoice2go for $625 million further expanded the company's reach and potentially altered the ownership percentages. These transactions are key to understanding the evolution of bill.com company ownership. For a deeper dive into how the company generates revenue, explore the Revenue Streams & Business Model of Bill.com.

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The Board of Directors for Bill.com, as of January 2025, comprises a blend of its founder, major shareholder representatives, and independent directors. René Lacerte, the CEO and Founder, is a key member of this governing body.

While the specific voting power distribution among shareholders is not publicly detailed, publicly traded companies typically operate on a one-share-one-vote principle unless different share classes exist. There is no readily available information indicating any individuals or entities holding disproportionate control through special voting rights, nor have there been recent reports of proxy battles or activist investor campaigns impacting the company's governance. The board's composition, featuring both internal leadership and external expertise, points to a strategic focus on effective corporate oversight.

Understanding Bill.com's Governance

The structure of Bill.com's board reflects a commitment to balanced decision-making and strategic guidance. This composition is crucial for navigating the complexities of the financial technology sector.

• Board members bring diverse expertise in product development, operations, and leadership.
• The inclusion of independent directors ensures objective oversight.
• René Lacerte, as CEO and Founder, provides continuity and vision.
• Recent additions to the board in January 2025 highlight a focus on enhancing strategic capabilities.
• Understanding the Mission, Vision & Core Values of Bill.com can provide further context on the board's direction.

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In recent years, Bill.com has actively managed its capital structure and expanded its leadership team, influencing its ownership trends. The company's strategic financial actions, including significant share repurchases, indicate a focus on shareholder value and operational confidence. These moves are occurring within a dynamic market where institutional investors play a key role.

The company has also strengthened its executive team. Rohini Jain joined as Chief Financial Officer in June 2025, and John Rettig expanded his role, having previously served as CFO from 2014 to 2025. Mike Cieri was appointed Executive Vice President, General Manager of Software Solutions in May 2025. These developments are occurring as Bill.com navigates an increasingly competitive fintech landscape, focusing on strategic investments to enhance its platform and market reach. Projections suggest core revenue growth could increase from an estimated 15% in fiscal year 2025 to around 20% in fiscal year 2026.

Shareholder Value Initiatives

Bill.com's recent share repurchase programs, totaling hundreds of millions of dollars, demonstrate a commitment to optimizing its capital structure and returning value to shareholders. These actions reflect management's confidence in the company's future performance.

Leadership Expansion

The addition of a new CFO and the expanded role of a key executive in mid-2025 signal a strategic enhancement of the company's financial and operational leadership. This strengthens the management team overseeing Bill.com's strategic direction.

Market Position and Competition

While Bill.com holds a strong position in the U.S. SMB accounting market, it faces growing competition from various fintech companies. The company's focus on innovation and strategic investments aims to maintain its competitive edge.

Platform Innovation

Recent platform enhancements, including new procurement capabilities and expanded payment options launched in April 2025, underscore Bill.com's commitment to evolving its intelligent financial operations platform. The introduction of Supplier Payments Plus further supports enterprise suppliers and streamlines SMB transactions.

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