About Melio

Melio is a fintech platform that enables small businesses to manage their business-to-business payments and receivables through automated workflows and cash flow optimization. By providing features like instant ACH transfers and customizable payment links, Melio addresses the inefficiencies and delays in traditional payment processes, allowing businesses to pay vendors globally and get paid quickly.

```xml <problem> Small businesses often face challenges with inefficient and time-consuming business-to-business payment processes, leading to delayed payments, cash flow bottlenecks, and increased administrative overhead. Traditional payment methods lack automation and real-time visibility, making it difficult for businesses to manage their accounts payable and receivable effectively. </problem> <solution> Melio is a fintech platform designed to streamline B2B payments and receivables for small businesses, providing tools to boost efficiency, gain financial control, and optimize cash flow. The platform enables businesses to pay vendors and get paid by customers in their preferred methods, including ACH bank transfers, credit/debit cards, and paper checks. Melio offers features such as automated bill capture, approval workflows, batch payments, and integrations with accounting software like QuickBooks and Xero. By automating tasks and providing real-time synchronization of payment data, Melio helps businesses save time, reduce errors, and improve cash flow management. </solution> <features> - Accounts payable automation: Streamlines the process of paying vendors, contractors, and any business bill. - Accounts receivable: Enables businesses to send invoices and receive payments online with custom payment links. - Payment flexibility: Supports multiple payment methods, including ACH bank transfers, credit/debit cards (even where cards are not accepted), wire transfers, and paper checks. - Fast payments: Offers options for expedited payment delivery, such as fast ACH transfers and instant bank transfers. - International payments: Allows businesses to pay vendors and suppliers around the world in USD or local currencies. - Integrations: Seamlessly integrates with QuickBooks Online, QuickBooks Desktop, Xero, and Amazon Business for automatic two-way data synchronization. - Mobile app: Enables users to send and track payments on the go. - Approval workflow: Facilitates the assignment of operational tasks while maintaining control over crucial decisions with customizable user roles and permissions. - Easy bill capture: Automates bill pay processes by scanning bills or importing invoices from Gmail. - W-9 collection and 1099 automation: Simplifies tax preparation by collecting W-9 forms from contractors and syncing with Tax1099 for easy 1099 e-filing. - Security: Employs industry-leading security measures, including PCI compliance, multi-factor authentication, 24/7 security monitoring, and DDoS protection. </features> <target_audience> Melio primarily targets small businesses across various industries, including professional services, food and beverage, retail, construction, healthcare, and nonprofits, as well as accounting firms managing multiple clients. </target_audience> <revenue_model> Melio offers tiered subscription plans with monthly or annual billing, including a free "Go" plan with limited features and paid plans ("Core," "Boost," and "Unlimited") that unlock additional capabilities and higher transaction volumes; transaction fees apply for certain payment methods and expedited services, such as card payments (2.9%) and fast checks ($20). </revenue_model> ```

What does Melio do?

Where is Melio located?

Melio is based in East New York, United States.

When was Melio founded?

Melio was founded in 2018.

How much funding has Melio raised?

Melio has raised 683260000.

Location

East New York, United States

Founded

2018

Funding

683260000

Employees

630 employees

Major Investors

Fiserv

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Melio

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Executive Summary

meliopayments.com 30K+

Crunchbase

Founded 2018 – East New York, United States

Funding

Estimated Funding

$500M+

Major Investors

Fiserv

Team (500+)

No team information available.

Company Description

Problem

Small businesses often face challenges with inefficient and time-consuming business-to-business payment processes, leading to delayed payments, cash flow bottlenecks, and increased administrative overhead. Traditional payment methods lack automation and real-time visibility, making it difficult for businesses to manage their accounts payable and receivable effectively.

Solution

Melio is a fintech platform designed to streamline B2B payments and receivables for small businesses, providing tools to boost efficiency, gain financial control, and optimize cash flow. The platform enables businesses to pay vendors and get paid by customers in their preferred methods, including ACH bank transfers, credit/debit cards, and paper checks. Melio offers features such as automated bill capture, approval workflows, batch payments, and integrations with accounting software like QuickBooks and Xero. By automating tasks and providing real-time synchronization of payment data, Melio helps businesses save time, reduce errors, and improve cash flow management.

Features

Accounts payable automation: Streamlines the process of paying vendors, contractors, and any business bill.

Accounts receivable: Enables businesses to send invoices and receive payments online with custom payment links.

Payment flexibility: Supports multiple payment methods, including ACH bank transfers, credit/debit cards (even where cards are not accepted), wire transfers, and paper checks.

Fast payments: Offers options for expedited payment delivery, such as fast ACH transfers and instant bank transfers.

International payments: Allows businesses to pay vendors and suppliers around the world in USD or local currencies.

Integrations: Seamlessly integrates with QuickBooks Online, QuickBooks Desktop, Xero, and Amazon Business for automatic two-way data synchronization.

Mobile app: Enables users to send and track payments on the go.

Approval workflow: Facilitates the assignment of operational tasks while maintaining control over crucial decisions with customizable user roles and permissions.

Easy bill capture: Automates bill pay processes by scanning bills or importing invoices from Gmail.

W-9 collection and 1099 automation: Simplifies tax preparation by collecting W-9 forms from contractors and syncing with Tax1099 for easy 1099 e-filing.

Security: Employs industry-leading security measures, including PCI compliance, multi-factor authentication, 24/7 security monitoring, and DDoS protection.

Target Audience

Melio primarily targets small businesses across various industries, including professional services, food and beverage, retail, construction, healthcare, and nonprofits, as well as accounting firms managing multiple clients.

Revenue Model

Melio offers tiered subscription plans with monthly or annual billing, including a free "Go" plan with limited features and paid plans ("Core," "Boost," and "Unlimited") that unlock additional capabilities and higher transaction volumes; transaction fees apply for certain payment methods and expedited services, such as card payments (2.9%) and fast checks ($20).