Melio Secures $150 Million in Series E Funding to Accelerate Growth
Melio, a premier accounts payable and receivable platform tailored for small and medium-sized businesses, has successfully secured an impressive $150 million in a strategic funding round led by Fiserv. This significant investment marks a pivotal moment for Melio as it seeks to accelerate its growth and expand its partnerships.
Funding Round Highlights
The recent Series E funding round has valued Melio at $2 billion, reflecting a remarkable ten-fold increase in revenue since the last funding round three years ago. This growth is attributed to Melio’s expanding customer base, now inclusive of medium-sized businesses, and the establishment of new partnerships.
- Funding led by Fiserv
- Participation from Shopify Ventures and Capital One Ventures
- Valuation of $2 billion
- Ten-fold revenue increase
Key Investors
In addition to Fiserv, several reputable investors participated in this funding round, including:
- Accel
- Bessemer
- Coatue
- Frontline Ventures
- General Catalyst
- Latitude
- Thrive Capital
Melio’s Innovative Solutions
Melio’s platform is designed to streamline cash flow management and enhance both accounts receivable and payable solutions. It empowers small and medium-sized businesses, along with their accountants, to:
- Maximize cash flow
- Save time on payment operations
In collaboration with Fiserv, Melio launched a joint solution known as CashFlow CentralSM. This initiative merges Melio’s workflows with Fiserv’s robust payment capabilities and extensive biller and merchant network, providing an enhanced experience for financial institutions and their clients.
Expert Insights
Melio’s CEO and co-founder, Matan Bar, expressed pride in the partnership’s success, stating:
“We’re proud to witness our embedded solution helping our partners better service their business clients, leading to increased deposits, higher engagement, and creating new revenue streams.”
Similarly, John Gibbons, Head of the Financial Institutions Group at Fiserv, highlighted the value of their collaboration:
“Through our partnership with Melio, CashFlow Central is designed to create significant value for financial institutions and their business clients or members. We are excited to leverage our unique position at the intersection of financial institutions and businesses to deliver a comprehensive, integrated experience that enables our clients to compete and grow their portfolios with this important segment of their communities.”
For more information on Melio’s offerings and their impact on financial institutions, visit Melio’s official website or check out Fiserv’s website for insights on their solutions.
