Small business financial services firm Bento for Business is welcoming the founder of Billtrust onto its board of directors.
A press release issued Tuesday (Oct. 9) said Billtrust Founder and CEO Flint Lane is joining Bento for Business' board as the company moves to expand its presence in commercial payments, business banking and treasury management. Bento for Business said Lane's experience at the helm of an accounts receivable automation company will support the company's growth plans.
"Flint is a financial technology pioneer who has an incredible track record of building and scaling companies," said Bento for Business CEO and Co-founder Farhan Ahmad in a statement. "His strategic and operational acumen and his passion for innovative technology will be invaluable to Bento as we pursue our next phase of growth."
"I'm thrilled to join Bento as a board member," Lane said in another statement. "Bento is uniquely positioned to deliver modern, end-to-end banking solutions that help small and medium-sized businesses control spending and manage their cash. With their strong management team and customer-centric focus, Bento is already a category leader."
Bento for Business announced a $9 million funding round earlier this year led by Edison Partners, while existing investor Comcast Ventures and new investors also participated. At the time, Bento said it would use the funding to focus on growth, boosting its talent base and expanding its services platform.
The company offers business owners a commercial card linked to a digital platform on which they can control and analyze spend. Its solution integrates with QuickBooks and offers additional features like receipt uploads, plus an API and virtual and physical cards.
Last year, the company announced a collaboration with i2c, a company providing payments and integrated commerce solutions. Together, the companies developed a prepaid card solution to enhance small business owners' and managers' control of spend on company cards.