Mesh Payments, a leading corporate payment and spend management platform, announced today that it has raised $50 million in Series B funding led by Tiger Global. Other investors include Entrée Capital, Falcon Edge Capital and existing investors TLV Partners and Meron Capital.
Mesh plans to use the funding 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 company has demonstrated staggering growth of roughly 10X over the past nine months.
Mesh is disrupting 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 full control over their spend together with tailored insights for each payment and the tools needed to optimize their spend in real-time. Mesh provides a full solution tailored to individual payment types, SaaS payment management, travel payment management and more. The platform already powers some of the world’s fastest-growing brands, including Monday.com, Hippo Insurance, Sezzle, Riskified and Snyk.
“This is a very exciting time for Mesh as we experience rapid growth with more and more businesses realizing the value we provide,” said Oded Zehavi, co-founder and CEO of Mesh Payments. “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. Tiger Global is known for backing some of the most innovative businesses across industries, with previous investments in Facebook, Square and Stripe, among others.
"Mesh Payments is an example of a true disruptor -- a company whose innovations are transforming an already-established industry," said John Curtius, Partner at Tiger Global. "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.”