Melio was founded in 2018 by Matan Bar, Ilan Atias, and Ziv Paz in Israel, with its US headquarters in New York. The company focuses on a specific pain point: small businesses in the US still rely heavily on paper checks for paying vendors. Melio lets them pay anyone electronically — even if the recipient only accepts checks. Melio handles the conversion.
The product is free for ACH bank transfers and charges 2.9% for credit card payments. That credit card option is the clever part — businesses can earn card rewards or manage cash flow by paying with a card while the vendor receives a bank transfer or check. It’s a win-win that’s tough to find elsewhere.
Melio integrates with QuickBooks, Xero, and FreshBooks, syncing payment data automatically. The platform also handles accounts receivable, letting businesses send payment links and get paid online. Approval workflows let business owners delegate payment authority to bookkeepers or team members.
By 2023, Melio had raised over $500 million in funding and was valued at around $4 billion, though that number came under pressure as fintech valuations cooled. The company processes billions in annual payment volume and serves hundreds of thousands of small businesses. Melio is headquartered in New York with R&D offices in Tel Aviv.
