Melio, a NYC-based provider of digital payments tools for small businesses to manage their supplier payments, has raised $144m in funding to date.
In details, the company raised $80m in Series C in August 2020, on top of the $48m raised in Series B in March 2020 and the $16m in Seed and Series A, bringing total fundraising to $144m.
Investors who have led the fundraising rounds included Accel, Aleph, Bessemer Venture Partners, Coatue Management and General Catalyst, with participation from LocalGlobe, Corner Ventures and American Express Ventures.
Launched in May 2019 by Founded by CEO Matan Bar, CTO Ilan Atias and COO Ziv Paz, Melio is a B2B payments company enabling small businesses to digitally manage their supplier payments, taking control of their cash flow and managing their finances remotely and also serving as a payments platform. It allows businesses to pay their bills for free using a bank transfer or debit cards at melio.com. Businesses can also use a credit card for a minimal 2.9% tax-deductible fee, even if suppliers don’t accept cards.
Recently, the company partnered with Intuit Quickbooks to power one of its bill pay solutions.