Assertion Partly supported AI assessment confidence: 82% certainty 4/5 debate potential 1/5

Lacerte: Bill.com processes $40B annually with a $1,700 average transaction size

René Lacerte · 668: Will Bill.com and Intuit Lead Small Business FinTech Space? · May 24, 2017 · at 2:26

René Lacerte, founder and CEO of Bill.com, discusses the scale and average size of business payments processed on the platform in 2017.

0:00 / 0:07exact quote · 7.8s

720p mp4 · rendered on demand · StarZero watermark

“We do close to forty billion dollars a year in money movement, and the average transaction is 1700 to 2000 dollars”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

Bill.com processes close to $40 billion annually in transaction volume, with an average transaction size of $1,700 to $2,000.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

The claim contains two distinct assertions regarding Bill.com's operational metrics as of May 2017. The first leg—that Bill.com processed close to $40 billion annually in money movement—is well-supported: official company press releases in May and June 2017 reported processing over $36 billion per year, and Form S-1 filings reported $49.592 billion in total payment volume for FY2018. However, the second leg—asserting an average transaction size of $1,700 to $2,000—is not corroborated by corporate filings. Derived averages from Bill.com's SEC Form S-1 for FY2018 ($49.592 billion across 15.256 million transactions) indicate an average transaction size of approximately $3,250, well above the $1,700–$2,000 range.

Bill.com press release (May 18, 2017) stated the platform processed 'over $36 billion per year in volume', supporting the 'close to $40 billion' figure.
Bill.com SEC Form S-1 (November 2019) reported FY2018 Total Payment Volume of $49.592 billion across 15,256,358 transactions, yielding a derived average transaction size of ~$3,250, contradicting the $1,700 to $2,000 figure.

Checked against

[1] bill.com [2] bill.com [3] bill.com [4] sec.gov

Bill com S 1 2017 total payment volume transactions "over $36 billion" "Bill.com" 2017 OR 2016

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Bill.com René Lacerte

⚑ Spot an error? Report it

More from René Lacerte

Disclosure

Lacerte: Bill.com is embedding its product directly inside Intuit's QuickBooks Online

“Also in addition to banks, we have a great partnership with Intuit where we are just in the process of becoming embedded inside of QuickBooks Online.”

René Lacerte May 24, 2017 ▶ 17:13 668: Will Bill.com and Intuit Lead Small Business FinTech Space?

Assertion Not checkable as stated

Bill.com reduces customer paper payments from 95% to 35% in one year

“When a customer comes to us, 95% of their payments are paper-based. And we're able to move that to, you know, probably 35 to 40% over the course of the first six to 12 months.”

René Lacerte May 24, 2017 ▶ 3:45 668: Will Bill.com and Intuit Lead Small Business FinTech Space?

Disclosure

Lacerte: Bill.com charges $0.49 per electronic payment

“We charge 49 cents for an electronic payment period.”

René Lacerte May 24, 2017 ▶ 4:31 668: Will Bill.com and Intuit Lead Small Business FinTech Space?

Assertion Supported

Lacerte: Bill.com has over two million entities using its payments network

“And we have over two million entities that are in our network now that use us to pay and get paid.”

René Lacerte May 24, 2017 ▶ 4:52 668: Will Bill.com and Intuit Lead Small Business FinTech Space?

Assertion Supported

Lacerte: Bill.com raised $110 million in venture capital over 10 years

“And so this one, we have about a hundred and ten million from venture capital. In the company over the last 10 years.”

René Lacerte May 24, 2017 ▶ 6:01 668: Will Bill.com and Intuit Lead Small Business FinTech Space?

Assertion Supported

Lacerte: Intuit acquired his previous startup PayCycle for $170 million in 2009

“We sold it for a hundred and seventy million.”

René Lacerte May 24, 2017 ▶ 11:24 668: Will Bill.com and Intuit Lead Small Business FinTech Space?

Lacerte: Bill.com processes $40B annually with a $1,700 average transaction size

More from René Lacerte

Turn any episode into a week of clips.