“Can a B2B bill-pay platform become the embedded AP/AR layer inside every SMB software product?”
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.
Melio discloses JPMorgan Chase Bank, N.A. (sponsor), Evolve Bank & Trust (sponsor) and Silicon Valley Bank (sponsor) as its banking providers, with JPMorgan Chase Bank, N.A., Evolve Bank & Trust and Silicon Valley Bank as its sponsor banks, according to the Embedded Finance Index 2026.
Melio does not disclose a bank charter of its own; its banking services are provided through JPMorgan Chase Bank, N.A., Evolve Bank & Trust and Silicon Valley Bank.
Melio processes payments through Melio (self-operated) and TabaPay. Disclosed money-movement rails: ACH.
Melio's lending and capital products are provided by Lead Bank.
Melio connects to bank accounts through Plaid.
Melio uses Wise for FX and cross-border payouts.
Melio integrates with QuickBooks Online, QuickBooks Desktop and Xero.
The Embedded Finance Index 2026 maps 8 layers in Melio's stack: Payments / PSP (Melio (self-operated) and TabaPay); Money movement (ACH); Banking / BaaS (JPMorgan Chase Bank, N.A. (sponsor), Evolve Bank & Trust (sponsor) and Silicon Valley Bank (sponsor)); Lending (Lead Bank and Pay Over Time (Net 30 to 12 monthly installments, up to $50,000, powered by Credit Key)); Open banking (Plaid); Sponsor bank (JPMorgan Chase Bank, N.A., Evolve Bank & Trust and Silicon Valley Bank); FX & payouts (Wise); Accounting (QuickBooks Online, QuickBooks Desktop and Xero).
Melio was founded by Matan Bar and Ilan Atias and is founded in 2018, headquartered in New York, NY (with presence in Israel).
Melio has raised $506M+ (pre-acquisition) in total (latest round: Series D, September 2021; valuation: $4B (2021); acquired ~$2.5B (per PitchBook M&A)).
Get a read on where your own stack stands against Melio and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.