Melio, a number one accounts payable and receivable platform for small and medium companies, introduced it has raised an extra $150 million in a strategic funding spherical led by Fiserv.
Shopify Ventures and Capital One Ventures additionally participated within the funding spherical, which can assist gasoline the corporate’s development via partnerships.
The Sequence E spherical, which valued Melio at $2 billion, follows a ten-fold enhance in income because the final funding spherical three years in the past, pushed by an growth of Melio’s buyer base to incorporate medium-sized companies and the launch of latest partnerships.
Accel, Bessemer, Coatue, Frontline Ventures, Basic Catalyst, Latitude and Thrive Capital additionally participated within the newest funding spherical.
Melio’s platform integrates money circulation administration, accounts receivable and accounts payable options to assist small and medium-sized companies – and their accountants – maximize money circulation and save vital time managing their fee operations.
Fiserv and Melio launched a partnership final yr, combining Melio’s accounts payable and receivable workflows with the market-leading fee capabilities and biller and service provider community from Fiserv. The answer, CashFlow CentralSM permits the greater than 3,500 monetary establishment shoppers of Fiserv to raised meet the fee operations and money circulation wants of their small and medium-sized enterprise shoppers and members.
“We’re proud to witness our embedded resolution serving to our companions higher service their enterprise shoppers, resulting in elevated deposits, larger engagement and creating new income streams,”
mentioned Melio CEO and co-founder Matan Bar.
“By way of our partnership with Melio, CashFlow Central is designed to create vital worth for monetary establishments and their enterprise shoppers or members,”
mentioned John Gibbons, Head of Monetary Establishments Group at Fiserv.
“We’re excited to leverage our distinctive place on the intersection of economic establishments and companies to ship a complete, built-in expertise that permits our shoppers to compete and develop their portfolios with this essential phase of their communities.”
Featured picture credit score: Matan Bar, CEO and co-founder at Melio and Ilan Atias, Co-founder & CTO at Melio
