Mesh Payments

growth-positive

The Israel Securities Authority has granted payment licenses to four international fintech companies, including Revolut, Rapyd, Mesh Payments, and Airwallex, to operate in Israel. This move is expected to significantly expand their operations and introduce competition to services traditionally offered by local banks. Revolut, a British fintech giant, has hired Uri Nathan to lead its Israeli operations. The new licenses allow these companies to offer services such as fund transfers, digital wallets, and interest on deposits, despite initial opposition from the Bank of Israel. The licenses aim to lower costs for Israeli consumers and facilitate easier money transfers abroad.

growth-positive

US-based company Mesh Payments has launched ProcurePay, a new enterprise-grade payment solution that automates procurement, payment, and reconciliation processes. The solution can connect to any ERP or procurement system, offering flexibility, improved collaboration, faster reconciliations, and enhanced compliance. It also supports PO-driven processes for both online and in-store purchases in over 140 countries. The launch follows a period of significant growth for Mesh Payments, with the company reporting a 3X increase in the first half of 2023.

growth-positive

Mesh Payments, founded by Oded Zehavi and Eran Katoni, offers a solution for companies with employees spread across the globe to manage their expenses. The company provides virtual company credit cards to employees, allowing for better supervision and control of spending. Mesh is benefiting from the trend of cost savings and budget cuts, with companies joining their service even during a period of cost-cutting. The company has experienced growth and investor confidence, with a revenue run rate estimated at $40-50 million. Mesh plans to expand its development and target giant corporations in the coming year. Only 2% of the target market has adopted similar products, giving Mesh potential for successful competition.

growth-positive

Israeli fintech company Mesh Payments has raised $60 million in a funding round led by the Alpha Wave Fund, with participation from Tiger Global, TLV Partners, Entree Capital, and Meron Capital. Mesh Payments provides a payment management platform that allows companies to create virtual corporate credit cards, simplifying the process of managing corporate expenses. The companys clients include Monday.com, Hippo, Sezzle, Riskified, and Snyk. Mesh Payments has also announced a partnership with another Israeli fintech company, Papaya Global.

growth-positive

Expense management startup Mesh Payments has raised $50 million in a Series B funding round led by Tiger Global. The companys platform helps businesses oversee and manage employees expenses, integrating with various software and apps used by the company. Mesh Payments has experienced significant growth in the past nine months, expanding tenfold. The funding will be used to further develop the platform and for business development. The companys tools cover areas like travel expenses and spend cards, and its platform scans the network to determine if a purchase aligns with corporate policy and if it overlaps with existing expenses. Mesh Payments current customer list includes technology companies such as Monday.com, Hippo Insurance, Sezzle, Riskified, and Snyk.