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September 14, 2021Blog Posts

Payments firm Melio raises funds at $4 billion valuation

Reuters

Melio, a payments platform for small businesses, said on Tuesday it had raised $250 million in late-stage funding round, tripling its valuation to $4 billion since the start of 2021.

The latest funding round, co-led by new investor Thrive Capital and existing shareholder General Catalyst, brings the U.S.-Israeli firm’s total funding to $506 million since its inception in 2018.

Tiger Global Management, as well as existing investors Accel, Bessemer, Coatue, Corner Ventures, and Latitude, also took part in the Series D round.

New York-based Melio, which raised funds at a $1.3 billion valuation in January, said its monthly processing volumes had surged 5,000% over the past 18 months.

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