Melio, a B2B payments platform, has secured $150 million in Series E funding led by Fiserv, with participation from Shopify Ventures and Capital One Ventures.

Despite the valuation cut, the Israeli fintech is estimated to have registered a tenfold revenue increase since its last raise three years ago, now exceeding $100 million annually.

Online marketplaces are all about innovation. And in the B2B procurement space, that innovation is increasingly starting and ending with better and more seamless payments. After all, there’s an old saying about business-to-business payments: as long as it works, people don’t want to see any changes, and as a result, B2B payments have long been plagued by inefficiencies, especially when compared to the growing embrace of digital payments elsewhere. Traditional B2B methods, such as wire transfers, checks and manual invoicing, dominate the landscape but are cumbersome, slow and prone to human error. But as online B2B platforms grow more sophisticated and globalized, the necessity for modern payment systems that prioritize speed, security, flexibility and even integration with both buyer and supplier back-end infrastructure is clearer than ever