Melio, a leading innovator in B2B payment technology, has raised $150 million in its latest funding round to further its mission of revolutionizing payment solutions for small and medium-sized businesses. The round was led by Fiserv, with participation from major investors including Shopify, Accel, Bessemer Venture Partners, Capital One, Coatue, and General Catalyst. This funding marks a significant milestone for Melio as it continues to enhance its embedded payment solutions and strengthen its market position in the B2B payments space.
The investment reflects growing support for Melio’s approach to simplifying financial operations for businesses, especially through its partnership with Shopify. As part of their collaboration, Melio’s accounts payable technology has been integrated into Shopify Bill Pay, enabling merchants to manage and pay bills seamlessly from within their Shopify admin. This embedded solution is designed to drive engagement and streamline cash flow management for businesses, which has become increasingly critical in today’s dynamic market.
Expressing pride in Melio’s progress, CEO and co-founder Matan Bar stated, “We’re proud to witness our embedded solution helping our partners better serve their business clients, leading to increased deposits, higher engagement, and creating new revenue streams.” This latest investment round not only supports Melio’s growth but also solidifies its role as a key partner for platforms looking to provide added value to their business clients.
Shopify, a long-time supporter and investor in Melio, highlighted the impact of this partnership in a recent LinkedIn post: “Melio is our trusted partner for Shopify Bill Pay. This round marks a significant milestone in their mission to revolutionize B2B payments. With our initial investment thesis coming to life, Shopify has integrated Melio’s accounts payable solution, enabling merchants to manage and pay bills directly from their Shopify admin. Melio’s continued success is a testament to the power of our collaboration and shared mission to simplify financial operations for businesses everywhere.”
The funding will enable Melio to expand its product offerings, grow its engineering and customer success teams, and further develop its technology infrastructure. With an average monthly growth rate of 20%, Melio is well-positioned to broaden its reach and continue driving innovation in B2B payment technology. By leveraging this new capital, Melio aims to make financial operations smoother and more efficient for businesses across various industries.
For more details on Melio’s funding round and its vision for the future of B2B payments, you can read the official announcement.
