Melio Revenue, Valuation & Funding (2024)

Melio helps small businesses pay bills and get paid digitally, instead of through paper checks. Aiming to differentiate itself from larger competitor Bill.com, Melio focuses on embedding its payment technology into platforms like Shopify, enabling customers to make payments directly from these sites. It charges customers a 1% fee to expedite a same-day payment and 2.9% to pay by credit card. Valued at $4 billion after closing a $250 million Series C funding round in 2021, the company is backed by VCs like Tiger Global Management and Accel. The Fintech 50 2024 company's Cloud 100 debut comes after it laid off 7% of its workforce in April as part of a reorganization, bringing its employee count to approximately 600.