Temasek joins $88m round raised by US payments platform Bill.com

A Temasek Holdings logo is seen at their office in Singapore July 8, 2014. REUTERS/Edgar Su/File Photo

Singapore-based investment company Temasek has participated in a $88-million funding round raised by US-based payments management platform Bill.com, according to an announcement.

The round was led by New York-based global investment firm Franklin Templeton and joined by others such as Mastercard, workplace payment products supplier FLEETCOR, Fidelity Investments Canada ULC and other US-based investment firms such as Kayne Anderson Rudnick and Cross Creek.

Bill.com claims to have over 3 million members on its platform, with more than $60 billion in payments managed annually. It has partnered with accounting software providers such as NetSuite, Intacct, QuickBooks and Xero and CPA.com.

Temasek is a repeat investor in Bill.com. The Singapore-based firm had participated in Bill.com’s $100-million round with JP Morgan Chase in 2017.

The investment represents a continued interest by Temasek in the global payments space. Last year, it led a $100 million Series D round in Flywire that handles digital payments, including B2B transactions. It also teamed up with PayPal for a $125-million investment raised by Pine Labs in India, a provider of point-of-sale (POS) technology.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.