Mesh Payments picks up $60m financing


Mesh Payments, a finance automation platform, has secured $60m in new funding to push forward its go-to-market efforts and continue its product innovation.

According to PYMNTS, the new backing comes after the company tripled its revenue growth in the first half of the year, with 1,000 mid-market firms now using Mesh and close to $1bn in annualised payment volume following through the platform.

The company attributed the growth to companies moving their focus from growth to cost and spend reductions, and looking for solutions that will assist them.

Mesh allows finance teams to automate, control and optimise their corporate spend. The platform integrates with NetSuite to reduce the need for manual data entry and enables numberless Visa physical cards that sync with virtual cards to give finance teams more flexibility and control.

Mesh Payments CEO and co-founder Oded Zehavi said, “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.

“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.”

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