Total amount raised
$654 Millions
Latest funding date
10/1/2024
Location
Melio has successfully raised significant funding across multiple rounds, attracting notable investors such as Frontline Ventures and General Catalyst. The platform offers small businesses a streamlined way to manage their B2B payments and receivables digitally.
Keep reading to explore the intricacies of Melio's fundraising journey and the investors backing this innovative platform.
What Is Melio?
Melio, founded on July 1, 2018, in New York, New York, is a fintech company that provides small businesses with a digital platform to manage their B2B payments and receivables. The company was established by Ilan Atias, Matan Bar, and Ziv Paz.
Melio's platform is designed to save time and improve cash flow for small businesses by simplifying payment workflows. This allows businesses to focus more on their customers rather than back-office tasks.
Currently, Melio employs between 501 and 1000 people, reflecting its rapid growth and the increasing demand for its services in the fintech industry.
How Much Funding Has Melio Raised?
- Series A
- Amount Raised: $16M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop the initial version of the platform.
- Series B
- Amount Raised: $48M
- Date: March 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series C
- Amount Raised: $80M
- Date: September 2020
- Lead Investors: Coatue, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and integrate with more financial institutions.
- Series C
- Amount Raised: $110M
- Date: January 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: $250M
- Date: September 2021
- Lead Investors: General Catalyst, Thrive Capital
- Valuation at Round: $4 billion
- Motivation Behind the Round: To capitalize on high valuations and fuel growth.
- Series E
- Amount Raised: $150M
- Date: October 2024
- Lead Investors: Fiserv
- Valuation at Round: $2 billion
- Motivation Behind the Round: To recover from previous challenges and continue growth.
Total amount raised: $654M. Current valuation: $2 billion.
Key Investors
- Fiserv
- Details: Fiserv is a global provider of financial services technology solutions, known for its extensive portfolio in payment processing and financial services technology. It led Melio's Series E funding round.
- Investment Focus Areas: Payments, financial services technology, banking software.
- Notable Investments: Clover, First Data.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. It co-led Melio's Series D funding round.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm focusing on technology investments. It co-led Melio's Series D funding round.
- Investment Focus Areas: Technology, fintech, software.
- Notable Investments: Instagram, Stripe, GitHub.
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders. It led Melio's Series B funding round.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Coatue
- Details: Coatue is a global investment firm focused on public and private companies in the technology, media, and telecommunications sectors. It led Melio's Series C funding round.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Snap, ByteDance, DoorDash.
What's Next for Melio?
Melio's future looks promising with significant opportunities for growth. The company is poised to expand its B2B payments partnerships, leveraging its recent $150 million funding round led by Fiserv. This partnership, along with integrations with platforms like Amazon Business, positions Melio to tap into a vast market of small and medium-sized businesses seeking efficient digital payment solutions.
Future fundraising opportunities appear bright as Melio continues to demonstrate strong revenue growth and market expansion. The fintech industry trends, such as the increasing demand for integrated cash flow management solutions, further bolster Melio's potential to attract additional investments. However, challenges like competition from other fintech companies and maintaining rapid growth while ensuring service quality could pose hurdles along the way.
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