Small business B2B payments company Melio is partnering with Capital One to increase access to accounts payable and receivable cash flow management tools for small business customers, the companies announced this week.
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Additionally, Melio announced that Capital One Ventures, the financial institution's corporate venture capital arm, has joined Melio's Series C funding round with a strategic investment.
Melio's accounts payable and receivable platform enables credit cards to be accepted everywhere, including by vendors across the US who prefer to pay and get paid by other means like direct bank or wire transfers, as well as paper checks.
"We're thrilled to be building the foundation of a strategic partnership with Capital One, one of the leading banks in the US focused on small businesses, by equipping a segment of Capital One Business card holders with what they need most right now: increased access to cash flow management tools and payments that are accepted everywhere," said Melio co-founder and CEO Matan Bar.
"From the outset, we were impressed with Melio's ability to execute a strategy aligned with its mission to Keep Small Business in Business. Matan and his team recognize that cash flow is the driving force for small businesses and that B2B payment capabilities should be built with simplicity and ease of use as the core principles," said Aman Sharma, Partner, Capital One Ventures.
