Welcome to our dedicated page for Xero news (Ticker: XERYY), a resource for investors and traders seeking the latest updates and insights on Xero stock.
Xero Limited (XERYY) generates news that centers on its evolution as a global small business platform for accounting, payroll and payments. Company announcements frequently highlight strategic moves in financial software and small business technology, particularly around payments capabilities and support for small and midsize businesses.
Recent news includes Xero’s binding agreement to acquire Melio Limited, described as a leading U.S. SMB bill pay platform that integrates accounting and payments. Xero presents this transaction as a way to enhance its U.S. customer proposition, expand its scale in North America, and combine Xero’s accounting tools with Melio’s accounts payable and receivable solutions. Updates around this acquisition, its strategic rationale, and regulatory milestones are important for investors and followers of XERYY.
Xero also issues news about product developments and partnerships. For example, it has launched online bill payment capabilities for U.S. customers, powered by BILL, a financial operations platform for small and midsize businesses. This initiative is framed as helping small businesses streamline accounts payable, reduce manual processes, and gain better visibility over cash flow by paying bills directly within Xero.
Other coverage has included leadership changes, such as CEO succession announcements, and collaborations where Xero contributes insights and content to small business resource hubs. Visitors to this news page can review these types of updates to understand how Xero is positioning its platform, expanding its payments capabilities, and engaging with small businesses and advisors worldwide.
Xero (ASX: XRO) has announced a binding agreement to acquire Melio, a leading US SMB bill pay platform, for US$2.5 billion in cash and equity, with additional contingent consideration of up to US$0.5 billion. The acquisition represents a strategic move to enhance Xero's US presence and accelerate its 3x3 strategy.
Melio processes over US$30 billion in payments annually and serves 80,000 customers, generating US$153 million in revenue for FY25. The combined platform will integrate accounting and payment solutions, offering US SMBs and their advisors comprehensive A/P workflows and multiple payment methods. The transaction is expected to complete within 6 months, subject to regulatory approvals.
Xero has launched online bill payment capabilities for US customers through its partnership with BILL. The integration allows small businesses to pay bills directly within the Xero platform, streamlining accounts payable processes and enhancing cash flow visibility.
Key features include:
- Multi-bill payments in a few clicks
- Access to BILL's network of 7.1 million members
- Real-time payment tracking
- Two-step verification for security
The launch addresses significant challenges faced by US small businesses, with 48% reporting cash flow pressures over 12 months. Additionally, 38% struggle with tracking due dates, while 20% face difficulties managing bills in one location. The new solution aims to transform financial management from a burden into a strategic advantage for entrepreneurs.
Fiverr International Ltd. has launched "The Lift," an online recession hub designed for small-to-medium businesses and entrepreneurs navigating economic challenges. The platform includes articles, guides, and on-demand assistance powered by Fiverr talent. In collaboration with Payoneer and Xero, Fiverr offers users discounts and cash back incentives. A Fiverr survey reveals that while 80% of businesses reassess costs during the downturn, 78% remain optimistic about future prospects, highlighting a potential shift towards freelance talent for resilience.
Xero Limited (ASX: XRO) has announced the appointment of Sukhinder Singh Cassidy as the new CEO, effective February 1, 2023. Cassidy succeeds Steve Vamos, who retires after nearly five years of leadership. Under Vamos, Xero expanded its subscriber base from 1.4 million to 3.5 million and increased annualized monthly recurring revenue from $484.4 million to $1.5 billion. The transition will begin on November 28, 2022, with a focus on Xero's growth and customer-centric culture.