mobilises an additional $100 million in financing

US dollar, the largest U.S. business payments network, has secured an additional $100 million in financing — led by JPMorgan Chase and Temasek. will utilize the funds to accelerate’s distribution into banks and accounting firms, and the adoption of the payment network. The total amount secured by to-date reached over $200 million.

“Eighty percent of all payments made by U.S. businesses today involve paper checks, and it’s about time we change that,” said Rene Lacerte, CEO and founder of said it saves businesses up to 50 percent of the time typically spent on financial back-office operations by bringing payments into the cloud and securely automating their AP and AR end-to-end processes.

More than 1 percent of all U.S. businesses use the network to pay or get paid. The network is the largest business payment network in the U.S., with 2.5 million members processing $50 billion in payments annually. has over 100,000 customers. partners with four of the top 10 largest U.S. banks, more than 50 of the top 100 accounting firms and major accounting software providers including Intuit and Xero. It’s the preferred provider of digital payments solutions for, the technology arm of the American Institute of CPAs (AICPA). is headquartered in Palo Alto, California and is backed by Temasek, August Capital, Scale Ventures, Napier Park, DCM, Icon Ventures, Emergence Capital, Silicon Valley Bank and American Express with $200 million in funding.

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