Can I have multiple billing profiles under one account?

As a provider, each provider account has a single set of billing details (Settings → Billing details). If you need to run separate businesses with separate billing, create a separate provider for each — use the provider switcher in the top-left of the Control Center → Create new provider.

Note that "billing profiles" is a customer-side concept: your end customers can each keep multiple billing profiles (different billing identities) in the storefront and choose which one a subscription is billed to. It is not a way to sell different catalogs from one provider. See Billing Profiles for the customer-side feature.