Bar: Federal Reserve research shows $18T in US B2B payments remain on paper checks
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 3:55
Matan Bar, co-founder and CEO of B2B payment platform Melio, discusses the market opportunity that inspired him to launch the company after leaving PayPal.
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“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 dollars of payments that are still transferred through paper checks between businesses in the U.S., and that was, I think, the trigger for me to start thinking about media and the trigger for my conversations with Michael.”
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