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Melio Raises $110M, Reaches $1.3B Valuation as Small Businesses Digitize to Stay in Business
January 25, 2021 GMT
Left to right: COO Ziv Paz, CEO Matan Bar, CTO Ilan Atias (Photo: Business Wire)
NEW YORK & TEL AVIV, Israel (BUSINESS WIRE) Jan 25, 2021
Melio, which helps small businesses digitally manage their supplier payments, has raised a further $110 million to expand its offering across the US as the small business shift to digital solutions accelerates, rocketing to a $1.3B valuation in the process.
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Left to right: COO Ziv Paz, CEO Matan Bar, CTO Ilan Atias (Photo: Business Wire)
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Melio hits $1.3B valuation advancing B2B payments into the digital era
Just 18 months since it was founded, Israeli Fintech firm Melio Payments kicks off the new year by joining the Unicorn club. Oshry Alkeslasi / 26 Jan 2021 • 2 min read
Not even a month has gone by and we already have 2021’s first Israeli Unicorn. Fintech startup Melio Payments, which was founded just 18 months ago, continues its funding success - $140 million in September 2020 - by announcing a $110 million Series D round. The investment was led by Coatue Management, with existing investors Accel, Corner Ventures, Bessemer Venture Partners, American Express Ventures, Aleph, LocalGlobe, General Catalyst, and Salesfore. Melio joins the Unicorn club with a $1.3 billion post money valuation.
Israeli B2B payments co Melio raises $110m
The company, which helps small businesses digitally manage their supplier payments, raised the money at a valuation of $1.335 billion.
Israeli B2B payments platform Melio has completed a $110 million financing round, led by Coatue at a valuation of $1.335 billion. Previous investors Accel, Aleph, Bessemer Venture Partners, Corner Ventures, General Catalyst, Latitude, and LocalGlobe. Salesforce and American Express Ventures also participated in the financing round, bringing to $240 million the amount raised by the company, which was selected as one of Globes 10 best startups of 2020.
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The company, which helps small businesses digitally manage their supplier payments, was founded in 2018 by CEO Matan Bar, CTO Ilan Atias and COO Ziv Paz. The new funds will enable the company to expand marketing in the US as the shift by small and medium-sized business to digital channels speeds up during the Covid pandemic.
Supplier Payments Fintech Melio Raises $110 Million at $1.3 Billion Valuation
Melio, founded by CEO
Ilan Atias, and COO Ziv Paz, has raised $110 million at a valuation of $1.3 billion. Melio allows businesses to digitally pay their invoices for free using a bank transfer or debit cards. The funding round was led by Coatue bringing Melio’s total funding in 2020 to $240 million and $256 million since launch in 2018. Investors from earlier rounds include Accel, Aleph, Bessemer Venture Partners, Corner Ventures, General Catalyst, and Latitude. Salesforce and American Express Ventures also invested in 2020.
Melio is taking advantage of B2B wholesale payments that are said to be largely manual and a paper-based process. Melio reports that over 40% of B2B transactions in the US, or $25 trillion, are still made with paper checks. The ongoing COVID-19 health crisis has exacerbated the need for digital payments. Melio points to Federal Reserve data showing that paper check use by US