Mesh Payments, an Israeli fintech startup, raised $60 million in a Series C round of financing led by Alpha Wave. This raise comes just 10 months after the company brought in $50 million in a Series B round held last December. Mesh Payments has now brought in a total of $123 million to date.
Mesh Payments’ CEO described this funding round as a “validation of the strength of our product, the value it provides to businesses and the hardworking team at Mesh.”
Mesh Payments was founded in 2018 by CEO Oded Zehavi, former manager at PayPal-Israel and former senior executive at Payoneer, and by Eren Katoni, who previously was VP of R&D at Gartner-Israel.
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Currently, there are between 40 to 100 different types of payment tools on the cloud just to run their businesses.
Whether it’s a PO for a vendor, a monthly AWS subscription or employee travel expenses, customers using Mesh Payments can set policies, limits, automatically manage their receipts and receive real-time reports, giving them complete visibility and control over their corporate payments. Mesh issues highly controlled virtual cards with configuration for both online and offline payments, leveraging the growing adoption of mobile wallets (Apple Pay, Google Wallet and more) and enabling the resolution of a wide array of corporate payments pains and processes.
Mesh Payments enables full control and real-time visibility for corporate finance teams and streamlines payment activities across multiple department processes (IT, HR, Marketing, etc.) enabling organizations to better manage their corporate payments and ensure that SaaS subscriptions are never the cause of business disruption.
“Our finance automation platform continues to evolve and that evolution is driven by the feedback and close relationship we have with our customers,” said Oded Zehavi. “Our investors understand that we are providing real value to our users that goes above and beyond surface level benefits to address critical and strategic needs for our 1000+customers.”
Zehavi went on to tell the Mesh Payments employees that he felt lucky and privileged to share the news “with so many incredible people.”