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BFD Expert Voices - Private Credit

BFD Expert Voices

Bill, the SMB-focused fintech, is leaning into AI, deeper mid-market functionality, and partner channels, CEO René Lacerte tells Axios Pro.

Why it matters: Publicly traded Bill's scale gives the company a unique perspective into how SMBs are adapting to the uncertain macro environment.

Context: Lacerte founded Bill in 2006, and the company now serves roughly half a million businesses with over $350 million in quarterly revenue.

What's next: Bill (NYSE: BILL) reports Q4 and FY25 results on Aug. 27.

This interview has been edited for brevity.

Axios: What are the top priorities for Bill's product and roadmap?

Lacerte: "We care a ton about SMBs, and we've built a platform that adds more scale than anybody else. We have half a million businesses, 9,000 accountants, and over 8 million in our network. 

Recent launches like purchase orders, multi‑entity support and bulk payments came directly from responding to customer requests.

And AI is the next big frontier. We already accelerate billions in payments monthly and process over a billion documents through AI, so customers don't waste time on data entry."

"Two core components: document ingestion and payment acceleration. Customers send bills by email, upload, or even fax, and our AI extracts the vendor, amount, due date, and approvals. 

On the payments side, we move about 1% of U.S. GDP via ACH, and we do it faster than the risk clears because of AI risk models.

Beyond that, we're using two‑way sync with accounting systems to tighten accuracy, and we see AI as key to automating reconciliation, workflow and vendor connections."

Stablecoins are a hot topic. Are you seeing customer demand?

"We're not seeing demand from our U.S. SMB base. Most trade is between [politically] stable countries, and our customers would rather we automate their existing tasks. 

The platform already supports 10+ payment modalities, so adding another isn't a problem technically. But for now, we're focused on scaling and making current payment rails faster and more efficient."

How do you view competition from Ramp, Brex and others moving into AP/AR?

"Bill serves every segment of SMBs. We don't see much competition across those segments, though in the mid‑market, we encounter more spend‑expense players. 

What we've done differently is to converge software and payments with workflows at the core. That lets us expand into AR and card spend. 

Our embed channel — banks and software partners — is also unique and will expand further."

Can you expand on the embed and accountant channels?

"Embed means both customers embedding us into their workflows and partners distributing Bill. About 9,000 firms use our APIs today. We've learned from banks how to integrate and move quickly, and we'll announce more software partnerships soon. 

On accountants, it goes back to my roots — they're the glue of SMBs. Our exclusive partnership with CPA.com has driven adoption across top firms, and with AI, we'll empower accountants to move from manual checks to strategic advisory services."

Q: How are SMBs doing in this macro environment?

"SMBs are resilient but cautious given regulatory uncertainty and tariffs. We've seen a shift in B2B payments away from major cities into regional hubs. 

Overall spend has been flat for the past couple of years, plus or minus a couple of points. SMBs know efficiency only comes with tech."

Bill CEO René Lacerte on AI, competition and stablecoins

A unique perspective on how SMBs are adapting to the uncertain macro environment.

Photo illustration of René Lacerte next to the Bill logo.

Photo illustration: Axios Visuals. Photo: Bill

Bill, the SMB-focused fintech, is leaning into AI, deeper mid-market functionality, and partner channels, CEO René Lacerte tells Axios Pro.Why it matters: Publicly traded Bill&#x27;s scale gives the company a unique perspective into how SMBs are adapting to the uncertain macro environment.

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Bill CEO René Lacerte on AI, competition and stablecoins

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