Melio Simplifies B2B Payments for small businesses by raising $144M

Melio, a B2B payments company helping small businesses digitally manage their supplier payments, has raised $144m to reach more small businesses across the US as they shift to digital solutions to help manage the economic effects of Covid-19. Small businesses typically use a variety of different tools to manage supplier payments, with almost half of B2B payments carried out with paper checks. Melio’s digital accounts payable and receivable dashboard provides a single, integrated tool that allows small businesses to transfer and receive payments in a faster, easier way, giving oversight and control over cash flow, reducing or eliminating late payment costs, and giving businesses back valuable time.