New medium follows surge in customer demand and triple revenue growth for the first half of 2022
More than 1,000 companies and almost $1 billion flow of annualized payment volume (TPV) via the Mesh platform
NEW YORK, September 7, 2022 /PRNewswire/ — Mesh paymentsthe insight-driven financial automation platform, today announced $60 million new financing, bringing the total amount raised to $123 million. Alpha Wave is leading the round with participation from existing investors including Tiger Global, TLV Partners, Entreé Capital and Meron Capital. The funding will allow Mesh to expand its GTM efforts and further accelerate product innovation as it captures a growing share of the more than $100 billion B2B payments market.
Mesh brings efficiency and innovation to the CFO’s entire technology stack so businesses can operate faster in the face of changing market conditions. The 1,000 midsize companies using Mesh today are 5 times more efficient, in total, saving their finance teams an average of three days per month. Mesh powers some of the world’s fastest growing brands including Monday.com, Hippo Insurance, Sezzle, Riskified and Snyk.
Amid an increase in customer demand and a dramatic shift from hyper-growth-focused companies to reducing spend and costs, Mesh continues to enhance its platform to help finance teams automate, control and optimize their business spend – from travel and expense (T&E) to SaaS subscriptions. Powerful integrations, including the most robust integration in the category with NetSuite, bring additional efficiency gains and reduce the time spent on manual data entry and work.
“Since day one, Mesh has been focused on giving CFOs the automation and insights they need to more effectively manage their day-to-day operations,” said Oded Zehavi, co-founder and CEO, Mesh Payments. “And as enterprises operationalize distributed and remote workforce models, holistic visibility into enterprise spend is even more critical. Trust 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.
“Top CFOs seek to make the most of every dollar and every hour, especially during turbulent economic times. Through its strategic partnerships and best-in-class finance automation platform, Mesh Payment offers a outstanding value to its customers,” said Rick Gerson, Co-Founding Chairman and Chief Investment Officer, Alpha Wave Global. “Mesh Payments represents the kind of innovative, customer-focused business we seek that provides customers with a clear and lasting advantage. The number of businesses that are open to finding new and better ways to spend less and saving more is quite important and the Mesh team brings a top-notch solution that is continuously improving.”
Mesh makes old business cards obsolete with its insights-driven automation platform that gives finance managers more granular control and leverage over their business spend. A focus on context-aware payment models – including SaaS subscription management and other innovations including the industry’s only numberless physical VISA card that syncs with virtual cards for added flexibility and control – are key differentiators that appeal to busy finance teams. Mesh continues to disrupt the CFO’s technology stack by bringing innovation and automation to every corner of finance operations to free up finance teams to focus on better managing day-to-day finance operations.
Earlier this year, Mesh announced a strategic partnership with global payroll provider Papaya Global to take the friction out of managing employee expenses. Mesh is expected to announce additional strategic partnerships with global payment infrastructure providers soon.
SOURCE Mesh Payments