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Case Study: Invoice2go

How Unit helped Invoice2go launch banking products that drive engagement and retention

What Bridge built with Unit:
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Invoice2go, a Bill.com company, saw an opportunity to help small business owners manage their cash flow by offering them bank accounts.


With Unit and its bank partners, Invoice2go was able to launch banking products that drive engagement and retention.

An all-in-one platform for small businesses

Invoice2go, a Bill.com company, is a comprehensive software solution that helps small and micro-businesses (0-5 employees) manage their finances. They serve hundreds of thousands of companies in more than 150 countries.

“When companies come to us, their finances are generally spread out across a handful of tools: bank accounts, spreadsheets, accountants, and different software. Our goal is to give them a single place where they can see all of their money, figure out what they need to do next, and execute on it.” - Mark Lenhard, CEO of Invoice2go

Initially an invoicing product, Invoice2go has grown considerably over the last few years. Today, it helps small business owners with things like marketing, customer-relationship management, workflow management, cash-flow management, and taxes, with various integrations to popular accounting packages. According to Lenhard, the natural next step is making bank accounts available that can serve as a financial mission control for these small businesses.

What Invoice2go built with Unit:

  • No-fee business bank accounts
  • Standard and next-day ACH transfers that automatically match to invoices
  • Fee-free cash deposits and withdrawals at 55,000+ Allpoint-network ATMs
  • Custom-designed physical and virtual debit cards

A central bank account to manage cash flow

Invoice2go knew they needed bank accounts where small business owners could manage their cash flow. At the same time, they knew they didn’t want to build the functionality themselves; doing so could have taken two years and $2M, while eating up most of their available engineering bandwidth. So they set out to find a partner.

“We looked at a variety of different vendors. We chose Unit because their technology is the best in its class. Also, we let our engineers take a spin through the docs, and they gave us the thumbs-up. That’s an important signal.” - Mark Lenhard, CEO of Invoice2go

Invoice2go partnered with Unit and its bank partners to build business bank accounts, physical and virtual debit cards, and ACH payments. These products have been available to a general audience for just a few months, but in that time, Invoice2go has seen thousands of applications, over 74% of which were auto-approved. Over the same interval, they have processed more than hundreds of thousands in ACH payments.

“The support we’ve gotten from the Unit team has been uniformly impressive,” says Lenhard. “On the day we signed, they sent us a cross-functional checklist that guided us through the onboarding process, end-to-end. I now expect this from all our vendors.”

Tiered banking products that mitigate risk

Banking products expose Invoice2go to a certain amount of risk: things like bad actors and returned transactions. But by intelligently tiering their bank-account products, Invoice2go has been able to mitigate that risk and successfully navigate this new environment.

“Establishing these tiers was crucial,” says Lenhard. “As was the ability to move customers quickly and easily between them. Building that functionality with Unit was easy.” 

Looking ahead, Invoice2go plans to help their customers get paid more quickly and through additional channels: things like same-day ACH, push-to-card, and check deposits. 

“Working with Unit has been a seamless experience. From the quality of the docs and API to the knowledge of the entire team, Unit has been a partner from day one.” - Mark Lenhard, CEO of Invoice2go

Invoice2go is a financial technology company and not a bank. Banking services provided by Blue Ridge Bank N.A.; Member FDIC. The Invoice2go Visa® Debit Card is issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

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