Mesh Payments secures $50 million in B round led by Tiger Global
The payments management platform is expected to recruit dozens of new employees. CEO Oded Zehavi said “this is a very exciting time as we experience rapid growth”
The payments and business expenses management platform Mesh Payments announced Tuesday it raised $50 million in a Series B round, led by Tiger Global Management along with Entrée Capital, Falcon Edge Capital and existing investors TLV Partners and Meron Capital.
With this latest round, the company has raised a total of $63 million. Mesh stated it has enjoyed tenfold growth over the past nine months since it announced its previous round. Mesh Payments was founded in 2018 by CEO Oded Zehavi, a former senior executive at Payoneer and PayPal, and CTO Eran Katoni. The company has 60 employees, 50 of them in Israel and the rest in New York, however, with this latest fundraising, Mesh Payments is expected to recruit dozens more.
Mesh Payments’ platform allows CFOs to centralize and manage all of their company's payments in one place, replacing the corporate credit cards that provide no oversight or information in real time. Mesh Payments claims its solution streamlines the work of the organization's CFOs and employees, enabling payment process management of the entire company, from payment confirmation to automatic update of payments in the ERP system.
Furthermore, Mesh Payments provides real-time information and tools that help financiers understand each payment. It provides a solution suitable for individual payment types, SaaS payments, travel payment management among others, and is already used by some of the fastest growing companies in the world including monday.com, Hippo, Sezzle, Riskified and Snyk.
“This is a very exciting time for Mesh as we experience rapid growth with more and more businesses realizing the value we provide,” stated Oded Zehavi, co-founder and CEO of Mesh Payments. “The latest influx of funds enables us to continue to innovate on solutions that streamline the entire payments process to make operations smoother and faster for finance managers.”
"Mesh Payments is an example of a true disruptor -- a company whose innovations are transforming an already-established industry," said John Curtius, Partner at Tiger Global. "We're proud to support a business that continues to deliver on its ambitions, and we look forward to helping Mesh modernize the payments space even further.”