Xero and Silicon Valley Bank Partner to Offer Innovative Companies Next-Generation Financial Management
On July 16, Xero, the leading global online accounting platform and operating system for small businesses, and Silicon Valley Bank, the bank of the global innovation economy, announced integration that brings Xero’s latest financial management tools to startups and small businesses in both the US and UK.
On May 21, Xero, the global leader in online accounting software, announced new data revealing that U.S. small businesses (SMBs) using Xero accounting software and invoicing tools are getting paid faster year-over-year and faster than average U.S. businesses.
Xero, the global leader in online accounting software, reported significant growth for the company's fiscal year ended March 31, 2014. Operating revenue increased to $57.6 million - an 83 percent increase from last year. Additionally, annualized customer committed subscriptions jumped by 87 percent to $80.6 million.
Xero Limited has bolstered its board and US management team with the appointment of a new board chairman, adding a further US based director, and establishing a new role of CEO, North America following its $150 million capital raise in October 2013.
Chris Liddell takes on the role as board chairman, Bill Veghte has been appointed as a director, and Peter Karpas will lead the US team as CEO, North America.