Story of Melio: B2B Payments Platform Simplifying How Small Businesses Pay and Get Paid
Story of Melio:
Founding Vision
Melio was founded in 2018 by Matan Bar, who serves as CEO,
with the mission to simplify B2B payments for small and medium-sized
businesses. The platform focuses on streamlining accounts payable and
receivable to help businesses manage cash flow and improve financial
efficiency.
Purpose and Mission
Melio’s goal is to provide a digital solution that automates
payment workflows, tracks invoices, and optimizes cash management. By
simplifying the way businesses pay suppliers and get paid by customers, Melio
empowers SMBs to focus on growth rather than administrative tasks.
Platform Features
The platform offers accounts payable and receivable
automation, bill capture, approval workflows, and payment tracking. Users can
pay vendors via credit card, bank transfer, or check and manage incoming
payments seamlessly.
Integration with Accounting Tools
Melio integrates with popular accounting software like
QuickBooks, allowing businesses to keep financial records up to date and
simplify bookkeeping. This integration helps SMBs reduce errors and maintain a
clear overview of their finances.
Growth and Recognition
Since its founding, Melio has grown rapidly and earned
recognition as one of the top private cloud companies. In 2024, it was included
in the Forbes Cloud 100, highlighting its leadership in transforming digital
payments and cloud-based financial tools for SMBs.
Digital-First Approach
Melio is designed to move businesses away from outdated
payment methods, like mailing checks, into the cloud. It provides flexible
payment options, including instant payments, monthly installments, and
international transfers, offering businesses control over how they manage cash
flow.
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Mobile App Convenience
The Melio app enables pay-on-the-go functionality. Users can
take pictures of invoices to scan and pay them instantly or schedule payments
for later. The app allows vendors’ details to be saved, payments to be approved
or declined, and provides push notifications for tracking.
Security Features
The app includes advanced security measures such as Face ID,
Touch ID, and fingerprint recognition to protect user accounts. These features
ensure that transactions are secure and accessible only to authorized users.
Funding and Backers
Melio has raised $517 million in Series D funding from
investors including Tiger Global Management, Corner Capital Management, and
Thrive Capital. Its funding supports growth, platform development, and
integration with global accounting systems.
Future Outlook
Melio was acquired by Xero to expand its reach and
accelerate growth. The platform continues to innovate in B2B payments, helping
small businesses improve cash flow, reduce administrative burden, and focus on
business growth globally.
Timeline of Melio
- 2018
– Melio founded by Matan Bar in New York to simplify B2B payments.
- 2018–2019
– Platform development focusing on accounts payable and receivable
automation, bill capture, and payment tracking.
- 2019–2021
– Integration with QuickBooks and other accounting software, streamlining
financial management for SMBs.
- 2022
– Expansion of flexible payment options including instant payments,
monthly installments, and international transfers.
- 2023
– Recognition as a leading B2B payments platform; app introduced with
mobile pay-on-the-go capabilities.
- 2024
– Melio included in Forbes Cloud 100 list; total donations and payment
volume grow significantly.
- 2025
– Acquisition by Xero to accelerate growth and expand global reach.
