Melio founders (R-L) Ilan Atias, Matan Bar and Ziv Paz. Photo Michael Tomarkin, PR
The Israeli fintech company Melio has just tripled its valuation and is now worth $4 billion. Website The Information revealed that Joshua Kushner’s Thrive Capital made a new investment in Melio that gave the company its new valuation. No word yet on the details of the latest fundraise.
Melio only just hit the coveted unicorn valuation of $1 billion or more this year. It do so when the company raised $110 million in a Round B rocketing to a $1.3 billion valuation within a year and a half.
With that round, Melio raised a total of $256 million in investment. In Melio’s previous investment round, held in September 2020, the company was came away with just a $700 million Valuation. So it has increased in value by about 580% in just 12 months.
Melio 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.
Melio was founded by CEO Matan Bar, CTO Ilan Atias, and COO Ziv Paz. The three are experienced entrepreneurs. CEO Matan Bar sold his first startup The Gifts Project, to eBay and managed an international P2P payment team at PayPal.
COO Ziv Paz served as VP of the FIMI fund, which specializes in acquiring and improving companies. CTO Ilan Atias worked at PrimeSense, which developed sensors for detecting body movements. The company was sold to Apple. He also held a management position at Outbrain and Windward.
Melio has built a technological infrastructure that connects to various financial entities, including the development of algorithms that protect the system from fraud. “We built AWS (Amazon Cloud Service) from banks instead of servers,” Ilan Atias, co-founder and VP of technology once told Calcalist.