Melio, a platform specializing in accounts payable and receivable for small and medium businesses, has achieved a valuation of $2 billion following a strategic funding round of $150 million led by Fiserv.
Investors in this Series E funding include Shopify Ventures, Capital One Ventures, Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude, and Thrive Capital. This capital raise comes after a ten-fold increase in revenue since their last funding round of $110 million three years ago.
Melio’s platform combines cash flow management with accounts receivable and payable solutions, enabling SMBs and their accountants to enhance cash flow and streamline payment operations. Last year, Melio partnered with Fiserv to merge its workflows with Fiserv’s extensive payment capabilities and merchant network. This collaboration, known as CashFlow Central, equips over 3,500 financial institution clients of Fiserv to better address the payment and cash flow needs of their SMB clients and members.