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Bill.com Prices Shares At $22 Each

Payment software startup Bill.com  priced its shares at $22 apiece, according to an updated filing with the U.S. Securities and Exchange Commission.

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The financial technology company raised about $216 million by selling 9.8 million  shares, according to a statement from the company.  Bill.com, which will list on the New York Stock Exchange under the ticker “BILL,” raised $347.1 million in total funding as a private company.

The company initially set a price range of between $16 and $18 per share. It later raised that range to between $19 and $21 per share earlier this week.

The company reported $35.2 million in total revenue for Q3 of 2019, representing nearly 57 percent year-over-year growth. It reported $5.7 million in net losses during Q3 of 2019–a 544 percent increase from the same period a year prior, but tbh not a big loss at all for a SaaS company with gross margins of 74 percent. You can read more about Bill.com’s financials here

Bill.com, which is headquartered in Palo Alto, was founded in 2006 and made a name for itself with its cloud-based payments platform for small and mid-size businesses. 

More from Crunchbase News tomorrow morning when the company starts trading.

Illustration Credit: Li-Anne Dias

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