Mesh Payments raises $60M to scale finance automation and reporting
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With the growing popularity of remote and hybrid working, companies need to rethink expense management and financial reporting. For some organizations, this includes the Travel & Expenses (T&E) category, which typically includes travel and transportation, meals, entertainment, and gifts. T&E space could be worth $17.4 billion by 2027, according to Grand View Research, and it's one of the toughest expense categories for a business to track.
The flurry of payments and reporting has kept CFOs on their toes, and many IT managers are now turning to automation to solve this problem. Gartner reports that business leaders in the financial industry expect digital technologies to radically transform their industries by 2026. As CFOs attempt to further digitize their financial operations, keep this effort online with the main results of the company poses a new challenge.
New York-headquartered financial automation startup Mesh Payments recently raised $60 million in Series C funding to achieve its goal of automating financial payments and reporting at scale . Founded in 2018 by Oded Zehavi (CEO), former senior executive at Payoneer and PayPal, and Eran Katoni (CTO) - Mesh Payments says it provides a centralized, automated spend platform that helps finance teams gain visibility and control over all of their infrastructure. The company says it actualizes this by enabling full payment visibility, control and intelligence to orchestrate, manage, reconcile and reduce spend.
Corporate cards, often widely used for travel and entertainment expenses, offer little visibility into expenses. Traditional spend management platforms use alerts to give finance managers visibility, with the ability to track all payments, approvals and requests in real time, saving businesses up to 20% costs, according to a Gartner report. However, Zehavi told VentureBeat that Mesh Payments provides intelligent spend management with "the ultimate level of visibility by connecting to all SaaS [software as a service] in your business and shedding a whole [new] light on your business expenses. /p> Event
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Join today's top leaders at the Low-Code/No-Code Summit virtually on November 9. Sign up for your free pass today.
register here“We also offer greater integration into organizational systems that can bring insights that are not only driven by payment transactions themselves, but also provide insights beyond what you are spending,” Zehavi said in a press release announcing the funding.
"Since day one, Mesh h...
Learn how your business can build apps to automate tasks and gain efficiencies with low-code/no-code tools on November 9 at the Virtual Low-Code/No-Code Summit. Register here.
With the growing popularity of remote and hybrid working, companies need to rethink expense management and financial reporting. For some organizations, this includes the Travel & Expenses (T&E) category, which typically includes travel and transportation, meals, entertainment, and gifts. T&E space could be worth $17.4 billion by 2027, according to Grand View Research, and it's one of the toughest expense categories for a business to track.
The flurry of payments and reporting has kept CFOs on their toes, and many IT managers are now turning to automation to solve this problem. Gartner reports that business leaders in the financial industry expect digital technologies to radically transform their industries by 2026. As CFOs attempt to further digitize their financial operations, keep this effort online with the main results of the company poses a new challenge.
New York-headquartered financial automation startup Mesh Payments recently raised $60 million in Series C funding to achieve its goal of automating financial payments and reporting at scale . Founded in 2018 by Oded Zehavi (CEO), former senior executive at Payoneer and PayPal, and Eran Katoni (CTO) - Mesh Payments says it provides a centralized, automated spend platform that helps finance teams gain visibility and control over all of their infrastructure. The company says it actualizes this by enabling full payment visibility, control and intelligence to orchestrate, manage, reconcile and reduce spend.
Corporate cards, often widely used for travel and entertainment expenses, offer little visibility into expenses. Traditional spend management platforms use alerts to give finance managers visibility, with the ability to track all payments, approvals and requests in real time, saving businesses up to 20% costs, according to a Gartner report. However, Zehavi told VentureBeat that Mesh Payments provides intelligent spend management with "the ultimate level of visibility by connecting to all SaaS [software as a service] in your business and shedding a whole [new] light on your business expenses. /p> Event
Low-Code/No-Code vertex
Join today's top leaders at the Low-Code/No-Code Summit virtually on November 9. Sign up for your free pass today.
register here“We also offer greater integration into organizational systems that can bring insights that are not only driven by payment transactions themselves, but also provide insights beyond what you are spending,” Zehavi said in a press release announcing the funding.
"Since day one, Mesh h...
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