Mesh Payments, the finance automation platform for companies, has raised $60 million in a Series C funding round led by Alpha Wave.
Tiger Global, TLV Partners, Entreé Capital, and Meron Capital joined the round, which brings Mesh's total funding to $123 million.
Mesh promises to make legacy corporate cards obsolete with its insight-driven automation platform that gives finance managers more granular control over their spend.
The platform helps finance teams automate, control, and optimise their corporate spend — from travel and expense to SaaS subscriptions, and offers the industry’s only numberless Visa physical card that syncs with virtual cards.
Mesh claims that the 1000 mid-market companies using its tools save their finance teams, on average, three day a month.
The funding will be used for product innovation and to push growth that has already seen revenues triple in the first half of the year, with close to $1 billion annualised payment volume flowing through the Mesh platform.
Oded Zehavi, CEO, Mesh, says: "Since day one, Mesh has focused on giving CFOs the automation and insights they need to more effectively manage their day-to-day operations. And as companies operationalize distributed and remote workforce models, holistic visibility over company spend is even more critical.
"The confidence in Mesh from investors and customers, even in a turbulent market, reinforces that our finance automation platform is what companies want to help them navigate a cost-cutting environment."