B2B payments platform Melio secures $150m Series E funding round
Melio, a B2B payments platform for small and medium-sized enterprises (SMEs), has secured $150 million in a Series E funding round led by Fiserv.
Tomer Barel, President of Melio; Ilan Atias, Melio’s CTO; and Matan Bar, Melio’s CEO
The round also saw participation from Capital One Ventures, Shopify Ventures, Accel, Bessemer, Coatue, Thrive Capital, Frontline Ventures, Latitude and General Catalyst.
Founded in 2018 and headquartered in New York, Melio’s platform combines cash flow management with accounts payable (AP) and accounts receivable (AR) solutions, offering features such as ACH transfers and recurring bill payments to help SMEs “maximise cash flow and save significant time managing their payment operations”.
Melio says the new cash will help “fuel the company’s growth through partnerships”.
The funding also bolsters the partnership between the company and US fintech Fiserv. Last year, the duo integrated Melio’s AP and AR tech with Fiserv’s payment services to launch the CashFlow Central solution to further streamline AP and AR processes for SMEs.
The Series E round values Melio at $2 billion, a drop from its previous $4 billion valuation following its $250 million Series D funding round in 2021. However, Melio says the round “follows a ten-fold increase in revenue since the last funding round three years ago, driven by an expansion of Melio’s customer base to include medium-sized businesses and the launch of new partnerships”.
