Melio, a leading accounts payable and receivable platform for small and medium-sized businesses, announced the completion of a $150 million strategic funding round. The Series E round, led by Fiserv, a global leader in payments and financial services technology, also saw participation from Shopify Ventures, Capital One Ventures, and existing investors like Accel, Bessemer, and General Catalyst. Valued at $2 billion, this funding follows a remarkable ten-fold revenue increase over three years, attributed to Melio's growing customer base and strategic partnerships. Melio’s platform integrates cash flow management, accounts receivable, and accounts payable solutions, enabling businesses and accountants to optimize financial operations.
Fiserv, which partnered with Melio in 2023, combines Melio's payment workflows with its extensive biller and merchant network through CashFlow CentralSM. This solution supports over 3,500 financial institution clients in addressing the payment and cash flow needs of their business customers. Melio CEO Matan Bar highlighted the value of these embedded solutions in driving customer engagement and revenue growth for partners. John Gibbons, Head of Financial Institutions at Fiserv, emphasized the partnership’s potential to strengthen financial institutions’ ability to compete and serve their communities effectively. This funding will propel further growth and collaboration for Melio and its partners.
