Melio

Melio is a payment platform allowing small- and medium-sized enterprises to make payments to other companies through bank transfers, debit, credit, and in instances where it is requested, paper checks. Melio's mission is to provide a more sustainable payment method that reduces paper waste and paper trail.

Melio was founded in July of 2018 in Isreal by Matan Bar, Illan Atias, and Ziv Baz. Despite the founding location, Melio focuses much of its business interactions in the United States, where it experienced a 2,000% growth in 2020. Matan Bar, one of the company's founders, developed the idea for Melio after working in the peer-to-peer payment industry at companies like PayPal and its subsidiary Venmo.

Melio allows small- and medium-sized businesses (SMBs) to automate bank transfers, debits, and credits. Although the platform automates payments, it allows customers to delay when the money leaves accounts without hindering the receipt of payment for the other company. In a statement made by CEO Bar:

"Buyers keep cash longer, vendors get paid faster."

The Melio product is free for businesses to use, excluding credit payments. When a business opts to make a payment via credit card, the business is charged a 2.9% tax-deductible transaction fee in the United States.