Bar: Melio co-founders agreed to partner before having a business idea
Matan Bar · 20VC: Scaling to a $1.3Bn Valuation While in Stealth, The Power of Different Network Effects Within Payment Platforms & How To Leverage Your Board and Investor Base for the Most Value with Matan Bar, Founder & CEO @ Melio · Feb 11, 2021 · at 4:57
Matan Bar, co-founder and CEO of B2B payment platform Melio, discusses selecting his co-founders Ilan and Ziv.
0:00 / 0:08exact quote · 8.3s
720p mp4 · rendered on demand · StarZero watermark
“I think we've decided to work together in terms of our shared values. Like, we decided to work together before we had a specific concept in mind.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Matan Bar
Matan Bar: Bill.com targets finance pros; Melio targets owner-operators
“As these tools, Bill.com, Avid Exchange, all these wonderful accounts payable automation solutions are mostly built for finance professionals, like an accountant, a bookkeeper, a finance team, and Melio is targeting these owner operators, these small businesse…”
Bar: B2B paper check volume will drop to zero within five years
“The next five years is when the 18 trillion, or whatever number you choose of, some research says, 18 trillion dollars of paper checks They will decrease to zero. There's no doubt about it.”
Bar: Federal Reserve research shows $18T in US B2B payments remain on paper checks
“Hasn't happened yet in terms of how a business pays another business or how B to B payments are being done, and I remember this one number that I shared with Michael that I read the Federal Reserve research that indicated that there are around 18 trillion doll…”
Bar: Ubiquity drives winner-takes-all dynamics in payment networks
“And ubiquity wins. Like Venmo, PayPal, Zelle, Square Cash, all these payment networks, they became ubiquitous around the US, As more and more people started using them, and that's how its winner takes all, or winner takes most, I guess, with these types of pay…”
Bar: B2B payment platforms cannot rely on forced recipient sign-ups
“With B to B payments, and with Melio, it was interesting because we could not force a closed network. So, when a restaurant owner is paying its, I don't know, 15 suppliers, electricity company, the fish supplier, we need to make sure that the restaurant owner …”