{"id":4673,"date":"2019-08-14T18:53:49","date_gmt":"2019-08-14T18:53:49","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4673"},"modified":"2022-02-24T22:22:59","modified_gmt":"2022-02-24T22:22:59","slug":"jp-morgan-chase-funds-software-provider-freshbooks-deepening-integrated-payments-investment","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/jp-morgan-chase-funds-software-provider-freshbooks-deepening-integrated-payments-investment\/","title":{"rendered":"JP Morgan Chase Funds Software Provider FreshBooks, Deepening Integrated Payments Investment"},"content":{"rendered":"\n<p><strong>Merchant services giant JP Morgan Chase is again placing its bets on integrated payments, this time with a strategic investment in accounting software provider FreshBooks.&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>This is just the latest in a series of such ventures for Chase, which\u00a0acquired payment facilitator WePay   in 2017. The company also\u00a0acquired healthcare PF InstaMed   earlier this year.<\/strong><\/p>\n\n\n\n<p>This investment follows two previous funding rounds for FreshBooks, the company said in a&nbsp;<a href=\"https:\/\/www.freshbooks.com\/press\/releases\/freshbooks-announces-strategic-investment-from-jpmorgan-chase\">press release<\/a>; it raised $30 million in July 2014 and $43 million in July 2017. And it builds on an existing relationship; WePay was already a partner for FreshBooks, enabling integrated payments for the platform\u2019s users.&nbsp;<\/p>\n\n\n\n<p>\u201cFreshBooks is one of the smartest, easiest-to-use software options for small businesses, and we\u2019re thrilled we can support their growth with this investment,\u201d Bill Clerico, Head of SMB Product for Chase Merchant Services and CEO of WePay, said in the release.&nbsp;<\/p>\n\n\n\n<p>\u201cSince earlier this year, our 4 million Chase for Business customers have been able to sign up for FreshBooks through our small business marketplace and we\u2019ve seen lots of demand. Helping software companies like FreshBooks grow by serving our small business customer base is a key differentiator for us in the fast-growing integrated payments market,\u201d Clerico said.<\/p>\n\n\n\n<p>When Chase announced its plans to acquire WePay, the company\u2019s CSO Rich Aberman\u00a0told PaymentFacilitator   that Chase was \u201clooking to where they think the market\u2019s going to go, thinking about payments as a strategic play.\u201d\u00a0<\/p>\n\n\n\n<p>Part of that play, Aberman said, involved thinking about how businesses would be integrating more of their financial services through the software they\u2019re using to manage other business functions.<\/p>\n\n\n\n<p>\u201cOur mission is to reshape the world to suit the needs of self-employed professionals and their teams,\u201d Mike McDerment, CEO and co-founder at FreshBooks, said in the investment announcement. \u201cWe see a significant opportunity to combine the strength and scale of JPMorgan Chase\u2019s banking and payments capabilities with FreshBooks\u2019 expertise in software design to create mass adoption for small businesses and propel us closer to achieving that world.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Merchant services giant JP Morgan Chase is again placing its bets on integrated payments, this time with a strategic investment in accounting software provider FreshBooks. <\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[164,326,411,420,455,771,973],"class_list":["post-4673","post","type-post","status-publish","format-standard","hentry","category-archive","tag-chase","tag-freshbooks","tag-instamed","tag-investment","tag-jpmorgan","tag-saas","tag-wepay"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4673"}],"version-history":[{"count":4,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4673\/revisions"}],"predecessor-version":[{"id":8426,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4673\/revisions\/8426"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4673"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}