Financial automation software maker BILL has signed a definitive agreement to acquire Finmark, a leading financial planning software provider that simplifies financial planning and cash flow insights for SMBs.
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.
BILL Chief Product Officer Irana Wasti says the company is building the essential financial operations platform for SMBs. “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."
Wasti says the tool, together with its platform and data, will further empower SMBs to manage their businesses and cash flow.
Rami Essaid, co-founder and CEO of Finmark, says the two companies 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.”
Approved by the Boards of Directors of both Finmark and BILL, the transaction is expected to close by the end of this calendar year, subject to customary closing conditions. Terms of the acquisition were not disclosed.
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