B2B small business payments platform Melio has raised an additional $250 million, tripling the company's valuation to $4 billion since January 2021, the company announced Tuesday.
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The capital raised will accelerate the company's expansion through partnerships with leading financial institutions, software providers, and marketplaces interested in enabling B2B payments for their customers.
The Series D round, which comes as the company grew its monthly processing volumes by 5,000% over the last 18 months, was co-led by new investor Thrive Capital of New York, along with existing investor General Catalyst. US investment firm Tiger Global Management also invested in the round, along with existing investors Accel, Bessemer, Coatue, Corner Ventures, and Latitude.
"2021 has been a year of rapid growth for Melio. We found ourselves in a fortunate position to support small businesses more than ever before, helping them digitize their vendor payment operations, saving them valuable time, and maximizing their cash flow," said Melio CEO and co-founder Matan Bar.
