We have some exciting news to share: Xero has acquired Monchilla to accelerate the rollout of payroll in the US. Monchilla is an online payroll provider that focuses on small business in the US.
Although this was a big decision for us, it wasn’t a difficult one to make. Before deciding to extend an offer to Monchilla, we’ve spent a lot of time looking at how we can accelerate bringing online payroll to all states in the US. And I can say without a doubt, Monchilla will enable us to accelerate our goals in the US but also add experience in building our global platform with best of breed government connectivity.
Integrating Monchilla’s advanced technology with Payroll in Xero will offer Xero’s small business customers the ability to calculate and electronically file and pay payroll taxes across the US. But that’s not the only reason we’re excited about adding them to the Xero family. Our companies actually have a lot in common and are aligned on making the lives of small business owners better and making payroll as stress-free as possible.
“It was an obvious choice for us to join Xero to bring our experience in the US to Xero. No other company is building a beautifully designed and full featured global integrated payroll and accounting system. This is something small businesses around the world, but particularly in the US are begging for.” said Jack Couch, co-founder of Monchilla. “We’re excited to be joining Xero and for what the future holds for small business.”
“We’re working to improve the financial lives of small businesses by bringing them the latest tools.” says Rod Drury, Xero CEO. “This acquisition will further support our customers and accelerate growth in the US.”
The Monchilla team will be joining Xero with Jack and Nanjuan, the Monchilla co-founders, taking up leadership positions within the payroll team. Existing Monchilla customers will be fully supported as we roll out payroll to more states in Xero. We’ll transition Monchilla customers to Xero over time.
US Payroll in Xero
We launched US Payroll in Xero to make it easier for small businesses to manage their payroll, file taxes, and pay their employees while reducing the hassles and costs associated with having separate payroll and accounting software solutions. Early in 2014 we made the decisions to pause the rollout to more states while we built a solid foundation on which to grow and scale our platform and improve the overall experience.
Monchilla is a natural complement to our technology and we’re all excited by the opportunity this brings for us to accelerate towards our vision of supporting payroll in all states with full electronic services. The acquisition of Monchilla comes on the heels of our recent releases of Federal e-file, e-pay and with W-2 forms and filing being released next week. It’s part of our ongoing commitment to deliver beautiful seamless payroll and accounting to the US.
By providing a more complete online payroll solution, even more small businesses will have the chance to experience the joy of online payroll and accounting working as one.