USAA is probably best known as the leading financial services company for the military and their families. However, they are also investors, and have taken major positions in commercial real estate properties. USAA is expanding into fintech companies.
USAA is now the lead investor in the latest round of funding for Fintech company BillGO making a mark in the space. BillGo positions itself as a leader in providing real-time bill pay to consumers, check conversion to small and medium sized billers and having the largest eBills network. BillGO is connected to the banking industry because it is looking to change the future of bill pay. Chances are if you work at a bank or credit union, you may have used their technology.
It is possible that USAA could continue to invest in fintech given their enthusiasm and lead position. “USAA has a long history of using emerging technologies to develop innovative ways to serve members,” said Nathan McKinley, Vice President and head of Corporate Development for USAA. “That includes investing in innovative companies like BillGO that are exploring ways to better serve financial services consumers.”
BillGO’s bill pay solution reminds consumers when their bills are due and allows them to view, manage and pay all their bills from a consolidated location in real time. The company claims that its technology is currently being used by 30 million consumers and 8,000 banks and credit unions. Banking and credit unions are the primary users of their technology.
“Innovative solutions such as those developed by BillGO provide the industry with options and alternatives that leverage the capabilities of the ACH Network,” said Jane Larimer, chief operating officer at Nacha.
“USAA has a proven track record of working with leading financial technology companies to provide services and capabilities that make managing finances easier,” said Dan Holt, Co-Founder and CEO of BillGO.
USAA is not the only company that has invested in the BillGo. Pete Kight joined USAA in investing in the company. Kight is best known as the founder of Checkfree. Additionally, Commerce Ventures joined the financing in this round.