Melio, a NYC-based provider of an accounts payable and receivable platform for small and medium businesses, raised $150M in Series E funding, at $2 Billion valuation.
The round was led by Fiserv, Inc. (NYSE: FI). Shopify Ventures, Capital One Ventures, Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude and Thrive Capital also participated
The company intends to use the funds to accelerate its growth through partnerships.
Led by CEO Matan Bar, Melio is a provider of an accounts payable and receivable platform that enables small and medium-sized businesses to send and receive payments, optimize cash flow and save time with their workflow. It offers accounts payable and receivable as a service through integrations with financial institutions, e-commerce platforms, SaaS providers and marketplaces.
The company also provides a standalone solution for accounting firms and small to medium-sized businesses (SMBs) through its website.
Fiserv and Melio launched a partnership last year, combining Melio’s accounts payable and receivable workflows with thepayment capabilities and biller and merchant network from Fiserv. The solution, CashFlow CentralSM allows the more than 3,500 financial institution clients of Fiserv to meet the payment operations and cash flow needs of their small and medium-sized business clients and members.
