Published: 12 September 2020
Last updated: 4 March 2024
IT’S RARE FOR A START-UP to glide silently under the media’s radar. “We never decided not to go to the media, we just never decided we would, and now seems like the right time to tell our story, before someone else writes about our financial technology start-up, Melio Payments, without asking us.”
This is how Matan Bar, the company’s CEO, explains things on the day the company comes out regarding its operations, after raising a cumulative amount of US$144 million. “We did manage to halt previous publication through personal connections, but I’m now happy to share.”
In essence, Melio is Venmo for businesses, and provides a service for digital payments by companies, with an emphasis on very small businesses, such as a corner wine store paying the winery it buys its products from.
“Around the world, services that allow for payments between consumers are growing rapidly. Here in Israel there is Bit and Pepper Pay, and overseas there is Venmo, a service owned by PayPal. However, when a small business needs to pay a supplier, it has to go to its back office, which then sends off a cheque, by mail, to the supplier digital service” says Bar.
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Photo: Melio Payments was founded in 2018 by Matan Bar (R), Ilan Attias, who is Deputy CEO for technology, and Ziv Paz, who is the Deputy CEO in charge of operations
