# Payments startup Melio raises $144 Million (HT Tech) > Melio also intends to collaborate with more bookkeeping services, such as the company’s partnership with Intuit Quickbooks. # Payments startup Melio raises $144 Million ## Melio also intends to collaborate with more bookkeeping services, such as the company’s partnership with Intuit Quickbooks. Sept 09 2020, 04:00 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![The company is looking to seize a greater slice of the US market for payments between businesses.](https://images.hindustantimes.com/tech/img/2020/09/08/1600x900/Melio_1599569350710_1599569363302.png) The company is looking to seize a greater slice of the US market for payments between businesses. (Melio) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Melio, a payments startup focused on small businesses and backed by investors including American Express Ventures and Bessemer Venture Partners, has raised $144 million to fund new hires. The New York-based firm, founded in 2018, plans to use the funds to hire more engineers and sales staff, according to a statement on Tuesday. Melio also intends to collaborate with more bookkeeping services, such as the company’s partnership with Intuit Quickbooks. The company is looking to seize a greater slice of the US market for payments between businesses, which stands at roughly $25 trillion a year, according to a Mastercard Inc. presentation. While the segment has become increasingly digital over the last 15 years, more than 40% of business payments are still processed with checks, according to a report by the Association for Financial Professionals and underwritten by JPMorgan Chase & Co. last year. Also read click here. “Business payments shouldn’t be more complicated than paying a friend with your phone,” Matan Bar, Melio co-founder and chief executive officer, said in a statement. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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