Melio

Melio was founded in 2018 by Matan Bar, Ilan Atias, and Ziv Paz. The company is headquartered in New York, with its primary research and development center located in Tel Aviv and an additional office in Denver, Colorado. Melio operates as a private company; its last disclosed funding round was a $250 million Series D in September 2021, which valued the business at $4 billion. The company employs roughly 500 to 600 people globally. The Israeli team is focused on engineering and product development, while the US offices handle go-to-market and operations. Melio's core product is a B2B payments platform that allows US-based small and medium-sized businesses to pay their vendors via bank transfer or credit card. In August 2022, the company reduced its workforce by approximately 60 employees. In 2023, Melio expanded its embedded finance reach by launching Shopify Bill Pay.

Melio focuses on digitizing accounts payable and accounts receivable workflows for US-based SMBs, accountants, and bookkeepers. The platform replaces paper-based B2B transactions by enabling businesses to upload invoices and pay via ACH or credit card. Receiving vendors get the funds via ACH or a mailed paper check printed and delivered by Melio. The pricing model avoids software subscriptions: standard ACH bank transfers and receiving checks are free. Melio generates revenue by charging a 2.9% transaction fee for credit card payments and flat fees for expedited delivery or international transactions.

The primary web platform is divided into Accounts Payable (Pay) and Accounts Receivable (Get Paid). The AP module allows users to schedule payments and manage vendors, while the AR module lets users generate secure payment links for their clients. Beyond the standalone application, Melio provides an embedded finance API. This infrastructure powers bill pay capabilities natively inside third-party platforms. Notably, it powers QuickBooks Bill Pay for Intuit users and acts as the engine behind Shopify Bill Pay, which launched in April 2023.

Melio competes directly with Bill.com, a publicly traded company that largely caters to mid-market businesses, as well as competitors like Plastiq and Ramp. Melio differentiates itself from Bill.com by targeting smaller SMBs and independent accounting firms with a pay-as-you-go, subscription-free model that eliminates monthly software fees. The company expands its market footprint heavily through B2B partnerships, functioning as the underlying payments infrastructure for broader SaaS ecosystems like those of Intuit and Shopify.

Melio's R&D operations are centrally located in Tel Aviv, housing the majority of its technical staff. The co-founders are Israeli; CEO Matan Bar previously managed PayPal's consumer R&D center in Tel Aviv, and CTO Ilan Atias held engineering roles at PrimeSense and Apple. The Tel Aviv site acts as the engineering engine for the company's US-facing financial products, heavily recruiting backend engineers, data specialists, and product managers. The company's capitalization table includes notable venture capital firms such as the Israeli fund Aleph, Bessemer Venture Partners, and Coatue.