doxo, an all-in-one bill payment platform, has closed its Series C funding round on $18.5m, which was led by San Francisco-based Jackson Square Ventures.
Funds from the round, the company hopes to expand its capabilities, expand its bill provider director and double it headcount.
The FinTech company claims US households spend a total of $4.6trn on recurring bill payments. Doxo was created to ease the anxiety of staying on top of bills.
Its billing platform helps consumers manage all their bills and due dates from a single location.
It claims to have over seven million customers using its services across the US. The doxoPLUS subscription adds free bank payments and additional protections. These are protections for data, identity theft, credit score, late fees and overdraft.
doxo co-founder and CEO Steve Shivers said, “People are shifting to more customer-centered, secure payment methods and billers are looking for ways to improve their payment experience and boost customer engagement. By meeting these needs, doxo’s growth has accelerated significantly this past year.
“We’re very pleased to have Jackson Square Ventures as our partner as we continue to scale to meet demand and expand the benefits we deliver to consumers and billers alike.”
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