US business payment platform Bill reportedly closing on $1.95bn deal to acquire Melio
Bill Holdings, a US financial services platform for business accounts payable (AP) and accounts receivable (AR) processes, is reportedly in talks to acquire Melio Payments.
Bill reportedly in talks to acquire Melio for $1.95bn
The deal, which is thought to be in the final stages of discussions according to Bloomberg, would reportedly value Melio, a B2B payments platform provider for small businesses, at $1.95 billion.
This figure is less than half of the paytech’s former $4 billion valuation that it secured following its $250 million Series D funding round of September 2021, which was led by General Catalyst and Thrive Capital.
According to Bloomberg’s sources, Bill plans to secure the takeover through a stock and cash transaction. However, it has been emphasised that the exact terms of the agreement could be revised prior to the deal being inked and the talks could still fall through altogether.
Based in San Jose, California and led by CEO and founder René Lacerte, Bill provides financial automation software to primarily small and medium-sized businesses (SMBs).
Working across multiple industries, including healthcare, construction, retail and wealth management, the company’s integrated platform supports SMBs with a range of payment solutions from invoicing and ACH payments to AR/AP and pay by card.
In posting the company’s FY24 results last week, president and CFO John Rettig said: “We are carefully navigating the current environment while continuing to invest behind the long term opportunity to serve millions of SMBs.”
Bloomberg reports that an official announcement regarding the acquisition could be released as soon as this week.
