Mesh Payments, a corporate payment and spend management platform, announced that it has secured $50 million via a Series B round that was led by Tiger Global.
Other participants in Mesh Payments’ investment round include Entrée Capital, Falcon Edge Capital and existing investors TLV Partners and Meron Capital.
As mentioned in the update shared with CI, Mesh intends to use the proceeds to continue its accelerated growth, “expand its US operations and introduce additional products that transform the way finance professionals manage payments by giving them a new level of control and visibility.”
The firm has “demonstrated [steady] growth of roughly 10X over the past nine months,” the announcement noted.
Mesh further explains that it plans to disrupt the spend management space “with a holistic, easy-to-use corporate payments platform that enables finance managers to streamline their entire payments from one powerful platform.”
In doing so, businesses get complete control over their spend together “with tailored insights for each payment and the tools needed to optimize their spend in real-time.”
Mesh offers a complete solution “tailored to individual payment types, SaaS payment management, travel payment management and more.” The announcement also mentioned that the platform already “powers some of the world’s fastest-growing brands, including Monday.com, Hippo Insurance, Sezzle, Riskified and Snyk.”
Oded Zehavi, co-founder and CEO of Mesh Payments, stated:
“This is a very exciting time for Mesh as we experience rapid growth with more and more businesses realizing the value we provide. 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.”
Today’s announcement is “an indication of the growing demand for next-generation spend management solutions,” the update noted.
Tiger Global is “known for backing some of the most innovative businesses across industries, with previous investments in Facebook, Square and Stripe, among others.”
John Curtius, Partner at Tiger Global, added:
“Mesh Payments is an example of a true disruptor — a company whose innovations are transforming an already-established industry. 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.”