Category: Small and medium businesses

“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...)

From humble beginnings to market leadership: UiPath rings the NYSE bell!


This post is by Philippe Botteri from Cracking The Code




UiPath rings the bell at the NYSE

Sometimes the most surprising outcomes originate from unexpected beginnings and we are honored to be part of the UiPath story.  

Founded in Bucharest, and now headquartered now in New York City, UiPath rang the bell this morning at the NYSE, becoming the largest public cloud company born in Europe. Congratulations to Daniel Dines and the UiPath team for this incredible accomplishment!



UiPath was founded in Bucharest in 2005, selling computer vision technology to OEMs. It was a difficult time of exploration and iteration, as many founders experience, and it took 10 long years to build the company from $0 to $1mm in revenue, a difficult phase.  During those early days, Daniel and the team learned the importance of humility and it became the cornerstone of the company’s culture:


“Humility gives you the opportunity to course-correct fast. I think this is the most important business lesson that I ever had in my life”

Daniel Dines


The key breakthrough came in 2015 when Daniel and his co-founder Marius saw how computer vision could be used to emulate human behavior and automate repetitive tasks for every range of business processes. With this vision in mind and a small 10 person team, UiPath shifted course, launched its first robotic process automation (RPA) and went on to become one of the fastest-growing cloud companies of its generation.  After going $0 to $1mm in their first 10 years, UiPath has now hockey-sticked to over $600mm in revenue in (Read more...)