Melio
Also a provider — view Melio’s profile →“Can a B2B bill-pay platform become the embedded AP/AR layer inside every SMB software product?”
Founded2018
HQNew York, NY (with presence in Israel)
FoundersMatan Bar, Ilan Atias
Total raised$506M+ (pre-acquisition)
Latest roundSeries D, September 2021
Valuation$4B (2021); acquired ~$2.5B (per PitchBook M&A)
IndustryFintech / SMB banking
The story
Founded 2018 as a digital AP/AR replacement for paper-check B2B payments for US small businesses. Pivoted toward an embedded-finance distribution model — powering bill pay inside Intuit QuickBooks, Shopify, and other partners rather than relying solely on direct SMB acquisition. Added BNPL (Pay Over Time) and international payments to extend ARPU. Ended up as an acquired entity, validating the embedded B2B-payments thesis.
Product timeline
2018
Founded by Matan Bar and Ilan Atias as a B2B payments platform for SMBs.· banking
2020
Series C ($80M) led by Coatue/General Catalyst; partnership with Intuit to power QuickBooks Bill Pay.· banking
2021
Series D raises valuation to $4B; expands partner program with banks, SaaS, and marketplaces.· banking
2023
Launched Pay Over Time (B2B BNPL) in partnership with Credit Key; partnership with Shopify.· lending
2025
Acquisition/M&A event recorded by PitchBook at ~$2.5B; operating subsidiary status.· acquisition
Regulated entities
1
regulatory licence held by Melio
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
In the press
embeddedfinancereview.com ↗Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
The stack
8 layers disclosed in Melio’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
14 more providers across 7 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.