Melio payments, an Israeli startup that provides payment tools for small businesses, said on Monday that former Meta and PayPal senior executive Tomer Barel has joined the company as its new Chief Operating Officer.
Melio’s rapid expansion will require Barel to drive strategy execution and scale operations, according to the company.
Melio’s payments processing volume has climbed to tens of billions of dollars per year, owing to a global boom in digital payments volumes prompted by coronavirus lockdowns, which pushed more companies online and raised demand for digital payments software.
Melio hired Prashant Gandhi, a JPMorgan Chase & Co managing director and Chase’s former head of digital payments, in July of last year. It raised $250 million in a late-stage investment round in September, bringing its worth to $4 billion since the beginning of 2021.
