Melio, a payments startup focused on small businesses and backed by investors including American Express Ventures and Bessemer Venture Partners, has raised $144 million to fund new hires.
The New York-based firm, founded in 2018, plans to use the funds to hire more engineers and sales staff, according to a statement on Tuesday. Melio also intends to collaborate with more bookkeeping services, such as the company’s partnership with Intuit Quickbooks.
Who is Melio?
Melio is an Isreali-based startup that started in 2018. Their goal is to bring a Venmo-like payment system to small shops with limited resources & technical knowledge.
Their main selling point is that they can allow stores to continue accepting checks through their system, while expanding to virtual payments.