The convergence of business payments has officially reached a fever pitch, with Bill.com, Divvy, Brex and, of course, @tryramp. Here’s a thread explaining forbes.com/sites/elizahav… 👇 (1/9)
Last week, Brex raised $425M at a $7B valuation while announcing Brex Premium (their version of a single spend management platform, like Ramp), and today news leaked that Bill.com is in talks to acquire Divvy for a rumored $2B+ (2/9)
This comes on the heels of @tryramp's news last month: @stripe made one of its biggest bets yet on Ramp, through an investment with VCs like @foundersfund, @redpointvc, @goldmansachs, D1, Coatue & @ThriveCapital that made us the fastest NY startup to reach a $1.6B valuation (3/9)
The opportunity to offer businesses a seamless way to pay for everything and to manage spend (read: spend less and smarter!) has been one of the largest untapped opportunities in fintech. We are doing everything we can to make running a high performing business easier. (4/9)
That is why we started @tryramp: no provider (old or new) was focused on helping companies spend less, while removing the need to create the painful artifacts (expense reports) of old technology. The industry clearly agrees the opportunity is massive and we love to see it. (5/9)
Payments innovators (like us) still only work with a small fraction of the total addressable market today. We believe we’re going to see a lot more investments, acquisitions, and growth in the space. (6/9)
For businesses, incumbents (e.g. Amex, Concur, Expensify) don’t make sense when you can use a modern platform for everything, and streamline the end to end workflows encountered when running a fast moving company. (7/9)
We think the first principles underlying the $BILL/Divvy acquisition are sound, but happen to believe that building cards, expense management, and broader B2B payments from scratch in one streamlined platform will be a smoother experience for customers over time. (8/9)
All of this is great news for employees and finance teams. New offerings (like ours) remove the need for expense reports to be created, and reduce operational complexity that wastes time and money. We are excited for what this means for companies and the industry's future. (9/9)

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Eric Glyman

Eric Glyman Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!