The Ledger
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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 …”
Bar: Setting strict 50-50 gender quotas is wrong approach for diversity
“So we didn't aspire to get to fifty-fifty. I don't think that's the right way to do that.”
Melio turned down higher valuations on every funding round
“We turned down higher valuations than the ones we took from our current investors on every round, really. Like, on our A, we had a higher valuation from another VC. On our B, on our C, this last round as well, we always received higher valuations, but we picke…”
Bar: Melio co-founders agreed to partner before having a business idea
“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.”
Bar: Cash flow speed drives network effects in open B2B systems
“Cash flow is the main driver for network effect with an open network like the one Milio has built.”
Matan Bar: Small businesses care about cash flow, not automation
“What these businesses care about is cash flow. Not automation.”
Bar: Melio will offer credit through partnerships, not in-house balance sheet
“I think we're most likely going to partner with a company that is doing credit well in order to provide this service as a Our focus is to become the best B to B payments platform and user experience, and that's a lot of work already. So getting into credit und…”
Matan Bar: Monthly HR reviews keep scaling startups ahead of org changes
“We meet every month. We have an HR review to see, evaluate specific performance topics, and just try to understand whether the structure that we have is the right one for the goals that we're trying to set. And it's not like every month we're changing the stru…”
Melio reaches 200 employees with 49% female gender breakdown
“Today, we're 200 people, 49% women, 51% men. This was the seed for us to become a truly diverse company. Most of our leadership are women.”
Matan Bar: 8 million US small businesses are eligible for Melio
“There are different numbers, but let's say around eight million small businesses that are eligible, small businesses for our platform,”