Total amount raised
$654 Million
Latest funding date
10/1/2024
Location
Melio has successfully raised funds through six different funding rounds, with notable investors including Frontline Ventures and General Catalyst. The platform offers a comprehensive bill pay and invoicing solution for businesses, integrating seamlessly with accounting software like QuickBooks and Xero.
Keep reading to explore the intricacies of Melio's fundraising journey and the investors backing this innovative platform.
What Is Melio?
Melio is a fintech company based in New York, New York, specializing in B2B financial services and payments. The company provides a digital accounts payable and receivable platform tailored for small and medium-sized businesses.
With an employee count ranging from 501 to 1000, Melio has successfully raised funds through six different funding rounds. The platform integrates seamlessly with accounting software like QuickBooks and Xero, offering various payment methods and automated workflows to improve cash flow management.
How Much Funding Has Melio Raised?
- Series A
- Amount Raised: USD 16,000,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their digital accounts payable and receivable platform.
- Series B
- Amount Raised: USD 48,000,000
- Date: March 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand their customer base.
- Series C (September 2020)
- Amount Raised: USD 80,000,000
- Date: September 2020
- Lead Investors: Coatue, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and integrate with more accounting software.
- Series C (January 2021)
- Amount Raised: USD 110,000,000
- Date: January 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand their market reach and improve platform capabilities.
- Series D
- Amount Raised: USD 250,000,000
- Date: September 2021
- Lead Investors: General Catalyst, Thrive Capital
- Valuation at Round: USD 4,000,000,000
- Motivation Behind the Round: To capitalize on high tech valuations and fuel growth and expansion efforts.
- Series E
- Amount Raised: USD 150,000,000
- Date: October 2024
- Lead Investors: Fiserv
- Valuation at Round: USD 2,000,000,000
- Motivation Behind the Round: To expand customer base to medium-sized businesses and support new partnerships.
Total Amount Raised: USD 654,000,000. Current Valuation: USD 2,000,000,000.
Key Investors
- Fiserv
- Details: Fiserv is a global provider of financial services technology solutions. It is the biggest distributor of software to banks in the US.
- Investment Focus Areas: Financial services technology, software distribution to banks.
- Notable Investments: Clover, First Data.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures. It co-led Melio's financing round in September 2021.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that invests in internet and software investments. It co-led Melio's financing round in September 2021.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Instagram, Stripe, GitHub.
- Coatue
- Details: Coatue is a global technology-focused investment firm. It has been a key investor in multiple rounds for Melio.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Snap, ByteDance, DoorDash.
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders. It was a lead investor in Melio's Series B round.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
What's Next for Melio?
Melio's future is brimming with opportunities, particularly in expanding its digital payment services for small and medium-sized businesses. The company's strategic partnerships with major players like Fiserv, Shopify, and Capital One open doors to a vast market, including over 3,500 financial institutions. This expansion is poised to significantly enhance Melio's market share and revenue streams.
Future fundraising opportunities appear promising as Melio continues to demonstrate robust growth and strategic alliances. The company's ability to attract significant investment, even amidst valuation adjustments, indicates strong investor confidence. This positions Melio well for additional funding rounds, which could further fuel its expansion and innovation efforts.
However, Melio may face challenges such as intense competition from other fintech companies and the need to maintain rapid growth. Navigating regulatory landscapes and managing operational complexities as the company scales will also be critical. Despite these hurdles, Melio's strategic direction and market positioning suggest a bright future ahead.
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