BILL, a provider of financial automation software for small and midsize businesses (SMBs, has signed a definitive agreement to acquire Finmark, a leading financial planning software provider that simplifies financial planning and cash flow insights for SMBs.
“We have a shared passion for helping SMBs succeed. With BILL’s platform, distribution ecosystem, and scale, we will be able to help many more SMBs manage their business with more real-time insight and analysis.”Tweet this
Finmark’s intuitive financial planning solution makes it easy for SMBs to analyze their business holistically, turn insights into decisions, and forecast with confidence. Accounting firms also use Finmark’s software to automate many of the processes involved in providing additional strategic client advisory services, including forecasting and cash flow management.
“We are building the essential financial operations platform for SMBs,” said Irana Wasti, BILL Chief Product Officer. “The acquisition of Finmark adds a powerful planning and cash flow analytics tool for SMBs and brings a very talented team to BILL. Finmark’s innovative software provides businesses with automated tools to build financial forecasts based on integrated data. This tool, together with our platform and data, will further empower SMBs to manage their businesses and cash flow.”
“We are thrilled to join BILL,” said Rami Essaid, CEO and Co-Founder of Finmark. “We have a shared passion for helping SMBs succeed. With BILL’s platform, distribution ecosystem, and scale, we will be able to help many more SMBs manage their business with more real-time insight and analysis.”
The transaction has been approved by the Boards of Directors of both Finmark and BILL, and is expected to close by the end of the 2022 calendar year, subject to customary closing conditions. Terms of the acquisition were not disclosed.