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Melio, an accounts payable and receivable platform for small and medium companies, has hit a $2 billion valuation in a $150 million strategic funding spherical led by Fiserv.
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Shopify Ventures, Capital One Ventures, Accel, Bessemer, Coatue, Frontline Ventures, Normal Catalyst, Latitude and Thrive Capital joined the Sequence E for New York-based Melio.
The funding follows a ten-fold enhance in income for the reason that final $110 million spherical three years in the past.
Melio’s platform integrates money circulation administration, accounts receivable and accounts payable options to assist SMBs – and their accountants – maximise money circulation and save time managing their cost operations.
The agency shaped a partnership final 12 months with Fiserv, combining Melio’s accounts payable and receivable workflows with the fintech big’s cost capabilities and biller and service provider community.
The providing, CashFlow Central, permits the greater than 3,500 monetary establishment purchasers of Fiserv to raised meet the cost operations and money circulation wants of their SMB purchasers and members.
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