Mesh Payments, a prominent finance automation platform, recently confirmed that the company has secured $60 million in a funding round led by Alpha Wave. Additionally, the investment round witnessed participation from some of the leading venture capital firms, including Tiger Global, TLV Partners, Entreé Capital and Meron Capital.
The details shared by Mesh Payments show that the company is planning to use fresh funding for the expansion of its product offering. Moreover, Mesh Payments highlighted the growing market of B2B payments.
"Since day one, Mesh has focused on giving CFOs the automation and insights they need to more effectively manage their day-to-day operations," said Oded Zehavi, the Co-Founder & CEO of Mesh Payments. "And as companies operationalize distributed and remote workforce models, holistic visibility over company [spending] 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."
To date, the finance automation platform has raised a total of $123 million. In the first half of 2022, Mesh Payments witnessed a surge in customer demand and a significant jump in revenues.
Partnerships
On top of that, Mesh Payments formed several partnerships with some of the leading players in the global payment ecosystem. Earlier in 2022, the company announced a strategic collaboration with Papaya Global.
"The best CFOs are looking to get the most out of every dollar and hour, particularly during times of economic turbulence. With its strategic partnerships and best-in-class finance automation platform, Mesh Payment delivers exceptional value to its customers," said Rick Gerson, the Co-Founder, Chairman, and Chief Investment Officer at Alpha Wave Global. "Mesh Payments represents the type of innovative, customer-focused company that we look for, that gives customers a clear and lasting benefit. The number of companies that are open to finding new and better ways to spend less and save more is pretty large, and the Mesh team brings a best-in-class solution that is continually improving."
