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BFD Expert Voices - Private Credit

BFD Expert Voices

BillingPlatform, a Denver-based enterprise revenue lifecycle management startup, raised $90 million in growth equity from FTV Capital.

Why it matters: Companies with complex billing relationships need tools that can manage customer relationships and maximize profitability.

How it works: BillingPlatform helps clients manage everything from simple subscriptions to sophisticated usage-based pricing models, enabling them to reduce operational costs and increase profitability.

The platform ingests end customer data from its clients, turns it into chargeable events, pushes those chargeable events into invoices, and acts as an [accounts receivable] AR sub-ledger, enabling enterprises to recognize that revenue, according to CEO Dennis Wall.

It also provides a module to automate the collections process and a customer portal for vendors and end customers to interact with for invoicing, bill pay, and other communications.

Between the lines: The company serves mainly large enterprise customers with complex billing needs and customer relationships, but has a particular strength in SaaS and fintech verticals, which is part of the reason for bringing on FTV as an investor.

"Their expertise, their pattern recognition, their past experience with SaaS companies [and] fintech companies, as well as supporting companies high-growth software companies, make them a great fit for us," Wall says. 

The intrigue: BillingPlatform operates purely as a SaaS platform today, but there are areas where it can expand.

For example, it integrates with customers' select payment processors but does not monetize the payment flow itself.

"As we've started to get larger, we believe there's a really interesting opportunity there for us to capture... And I think it's one of the one of the future strategies we will be exploring as we continue to scale," Wall says.

Of note: With the investment, FTV Capital partners Kyle Griswold and Richard Liu will join BillingPlatform's board.

Stifel acted as financial adviser to BillingPlatform, and DLA Piper and Kirkland & Ellis served as the parties' legal advisers.

BillingPlatform raises $90M growth round from FTV

The investors bring fintech experience BillingPlatform needs.

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Fintech

BillingPlatform, a Denver-based enterprise revenue lifecycle management startup, raised $90 million in growth equity from FTV Capital.Why it matters: Companies with complex billing relationships need tools that can manage customer relationships and maximize profitability.

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BillingPlatform raises $90M growth round from FTV

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