The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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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.”
Lacerte: Bill.com processes $40B annually with a $1,700 average transaction size
“We do close to forty billion dollars a year in money movement, and the average transaction is 1700 to 2000 dollars”
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.”
Lacerte: Bill.com charges $0.49 per electronic payment
“We charge 49 cents for an electronic payment period.”
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.”
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.”
Lacerte: Intuit acquired his previous startup PayCycle for $170 million in 2009
“We sold it for a hundred and seventy million.”
Lacerte: Bill.com retains over 90% of customers who complete their activation
“And when I say the most part, I mean like well over 90%, right? If they sign up and then they don't do any of those things, and in particular if they don't get the sync done or don't get a payment done you know, then within 90 days, you know, we might lose 20%…”
Lacerte: The average Bill.com customer pays around $100 per month
“The average customer is paying us around a hundred dollars a month.”
Lacerte: Bill.com consistently hits a 10 to 15-month CAC payback period
“Our payback target is, you know, somewhere between 10 and 15 months. And generally we had that.”
Lacerte: Bill.com models average customer lifetime at well over five years
“We assume, you know, well over five years, but we don't actually know because, you know, the data is just growing so fast, and, you know, we expect that, you know, customers will last longer, so we've had some customers obviously been in market right now for m…”