Melio, a New York-based bill payments platform for small businesses, has agreed to be acquired by Xero, a cloud accounting software company headquartered in New Zealand.
The acquisition will bring Melio’s payment capabilities together with Xero’s accounting platform to expand services for small businesses and the advisors who support them.

“By joining forces with Xero, we’re combining powerful accounting and innovative payment solutions to create a seamless experience that empowers small businesses and the advisors who support them,”
said Matan Bar, Co founder and Chief Executive Officer of Melio.
“Together, we are building the most comprehensive accounts payable and receivable platform in the US.”
Founded to simplify the process of sending and receiving payments for small businesses, Melio now processes tens of billions of dollars in transactions annually.
It works with a wide range of accounting firms, financial institutions, and software partners across the US.
Melio will continue operating under the Melio.com brand and remain available to all users regardless of their chosen accounting software, including QuickBooks Online, QuickBooks Desktop, Xero and others.
The company will also maintain its existing partnerships with financial institutions and vertical software providers.
“With Xero’s scale and deep accounting expertise, we’ll be able to accelerate innovation and create an even more seamless experience across payments and accounting,”
added Bar.
Both companies intend to support small businesses more effectively in a changing financial environment where cash flow and automation tools are becoming more important.
Melio noted that its core mission remains unchanged and that it will continue developing tools to support business owners and advisors.
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