Mesh Payments provides a spend-management platform that automates corporate expenses, offers virtual and numberless VISA physical cards, and integrates with organizational systems to surface insights beyond payment transactions. The product covers use cases from travel and expense (T&E) to SaaS subscription management and includes a corporate card offering. Mesh says its revenue run rate tripled in the first half of 2022 versus its November 2021 raise, and the platform processes close to $1 billion in annualized payment volume (TPV) with roughly 2.5% interchange yield. The company serves over 1,000 customers—notable clients include Monday.com, Hippo Insurance, Sezzle, Riskified, and Snyk—and targets the midmarket. Mesh has about 150 employees, with product and R&D in Tel Aviv and sales and marketing in the U.S.; its C-suite is 60% women. The company plans to use new capital to double down on R&D and expand its go-to-market efforts, and is pursuing partnerships such as the one announced with Papaya Global. Mesh Payments provides a platform for companies to oversee and manage employees’ expenses and for employees to track and manage how and where they spend money. Its tools cover travel expenses, spend cards and other spend-management functions, and the platform integrates with services including QuickBooks, Slack, NetSuite, Xero and G Suite. Mesh continuously scans connected cloud services to detect redundant or policy-violating purchases and flags them to employees and finance teams, which can block, reject or warn depending on company policy. The company plans to use the new funding to expand platform functionality and for further business development. Mesh has been growing rapidly, reporting tenfold growth over the past nine months, and previously raised $13 million; it did not disclose a valuation. Founded in Israel and now headquartered in New York, Mesh focuses on larger, digitally mature customers such as Monday.com, Hippo Insurance, Sezzle, Riskified and Snyk. Mesh Payments is a NYC-based startup led by CEO and co-founder Oded Zehavi that provides a cardless payments solution for organizations. Its platform gives corporate finance teams full visibility, control and payment intelligence to orchestrate, manage, reconcile and reduce spend while preventing payment failures and assuring business continuity. Mesh enables real-time visibility and control across department processes (IT, HR, Marketing, etc.) and helps organizations manage corporate payments and ensure SaaS subscriptions continue to work and do not cause business disruption. The company raised $13M in financing in a round led by TLV Partners with participation from Meron Capital, R-Squared Ventures and a consortium of fintech founders and investors led by fintech VC Ryan Gilbert. The funding will be used to expand sales and marketing efforts and accelerate strategic partnerships with management platforms to integrate with companies' corporate financial workflows.

Total raised

$123M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2022