Melio Payments is allegedly in talks to be acquired by Bill Assets, a US monetary services platform for company accounts payment (AP) and receivable and payable (AR) procedures.
Melio is a provider of B2B payments platforms for small businesses. The deal, which Bloomberg reports is in the last stages of discussions, would allegedly value Melio at $1.95 billion.
This amount represents just over fifty percent of the paytech’s previous $4 billion valuation, which it obtained after General Catalyst as well as Thrive Capital led a $250 million The series D fundraising round in September 2021.
Bill intends to complete the takeover via a stock & cash transaction, according to individuals close to Bloomberg.
Bill, a San Jose, California-based company founded and directed by CEO René Lacerte, specializes in financial automation software for small and medium-sized enterprises (SMBs).
The business’s integrated platform, which operates in several industries such as healthcare, construction, retail, and wealth management, offers SMBs a variety of payment options, including ACH, card, and AR/AP payments in addition to invoicing and invoicing.
Chairman and CFO John Rettig stated, “We are carefully maneuvering the current market while continuing to put resources behind a long-term opportunity to serve a million SMBs,” when releasing the company’s FY24 results last week.
According to Bloomberg, a formal announcement about the transaction might be made this week.
