“Focus is everything” – Melio’s Matan Bar


This post is by Philippe Botteri from Cracking The Code


 


This post is part of Accel’s Secrets to Scaling series, where leaders from across our portfolio share their learnings and advice with the next generation of European and Israeli entrepreneurs building global winners.


The first time I met Matan, Melio's co-founder and CEO, he told me that his mission was simple: he wanted to “help small business stay in business” by making B2B payments fast, simple and flexible. Coming from PayPal, Matan saw no reason why small businesses couldn’t pay their bills as easily as consumers send money on Venmo - in just two clicks. He and his co-founders Ziv and Ilan have made this happen, with the company now processing multi-billion dollar payment volumes just over two years after launch. 


Back in September, the company announced its $250 million Series D. As well as tripling the company’s valuation to $4 billion since January 2021, the round came as the company grew its monthly processing volumes by 5,000% in 18 months. I sat down with Matan to discuss his tips for hyperscaling with teams across two continents, the importance of focus, why the team set up a bookkeeper in New York, and much more…


Let’s start with your journey before starting Melio. You were head of PayPal consumer products, which is where you experienced first-hand the digitization of payments for consumers. And then you realised that there was a gap for B2B. So, tell us more about the inspiration for Melio…

At PayPal, I led the group responsible for (Read more...)