Melio Secures $150 Million to Boost B2B Payment Solutions
Melio Gains $150 Million for Growth and Innovation
Melio, a top accounts payable and receivable platform designed specifically for small and medium businesses, recently announced a remarkable funding achievement. The company successfully raised $150 million in a strategic round of funding, primarily led by Fiserv, Inc. (NYSE: FI), a leading global provider of payment technology solutions. This significant investment marks another milestone in Melio's mission to empower businesses with efficient financial management tools.
Funding Round Details and Valuation
The latest Series E funding round has elevated Melio's valuation to an impressive $2 billion. This substantial growth follows a ten-fold increase in the company’s revenues over the past three years, punctuated by a strategic expansion into medium-sized businesses. Such growth is largely attributed to the diligent efforts in broadening the customer base and the initiation of new partnerships.
Key Investors Fueling Growth
Joining Fiserv in this funding round are notable investors such as Shopify Ventures and Capital One Ventures, along with participation from Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude, and Thrive Capital. This diverse group of energetic investors is providing Melio with the resources necessary to continue evolving its platform and service offerings.
Enhancing Business Operations
Melio’s innovative platform presents comprehensive solutions for cash flow management alongside accounts receivable and payable services. It aims to assist small and medium-size enterprises, along with their accounting partners, in effectively managing their payment operations and maximizing cash flow. Such a holistic approach simplifies financial processes, allowing businesses to thrive in competitive environments.
Partnership with Fiserv
The alliance between Fiserv and Melio, initiated last year, integrates Melio’s robust accounts payable and receivable functionalities with Fiserv's widespread payment capabilities and extensive biller and merchant network. They introduced the CashFlow Central solution, tailor-made to assist over 3,500 of Fiserv's financial institution clients in addressing the payment and cash flow needs of small and medium-sized businesses.
Value Creation through Collaboration
Melio's co-founder and CEO, Matan Bar, expressed pride in the capabilities of their embedded solution to enhance the service levels provided by their partners to small businesses. This partnership facilitates increased deposits and higher customer engagement, enabling the generation of new revenue streams.
Additionally, John Gibbons, the Head of Financial Institutions Group at Fiserv, emphasized the mutual benefits of this collaboration, stating it’s crafted to deliver significant value to both the financial institutions and their business clients. This partnership stands at the intersection of financial service provision and business growth, thereby equipping clients to effectively compete and expand their portfolios.
The Role of Melio in Modern Business
About Melio: The company has carved a niche as a premier accounts payable and receivable platform. Melio’s services allow small and medium-sized businesses to conduct transactions swiftly, which in turn optimizes their cash flows and streamlines operational workflows. The platform facilitates payment processing through integrations with various financial institutions, e-commerce platforms, SaaS providers, and online marketplaces. Furthermore, Melio offers a dedicated solution for accounting firms and businesses through its online interface.
Frequently Asked Questions
What is Melio's recent funding achievement?
Melio has recently raised $150 million in funding, primarily led by Fiserv, enhancing their capacity to develop B2B payment solutions.
Who are the key investors in Melio's latest funding round?
Key investors include Fiserv, Shopify Ventures, Capital One Ventures, Accel, and Bessemer, among others.
How does Melio benefit small and medium-sized businesses?
Melio's platform helps these businesses manage cash flow efficiently, handle accounts payable and receivable easily, and ultimately save time.
What is the significance of the partnership with Fiserv?
The partnership combines Melio's functionalities with Fiserv's market-leading payment services, providing integrated solutions to their clients.
What does CashFlow Central offer?
CashFlow Central is designed to meet the payment operation needs of small and medium-sized business clients of Fiserv's financial institutions.
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