JERUSALEM (Reuters) – Melio, a U.S.-Israeli startup that offers payment tools for small businesses, said on Tuesday it entered into a strategic partnership to integrate its accounts payable platform with Capital One Business.
Terms of the deal were not disclosed but Melio — headquartered in New York with its research and development centre in Israel — said it was a multi-year strategic partnership.
The agreement will enable Capital One small business cardholders to pay their vendors with a card, even if they do not accept credit cards, directly from their Capital One Business account.
Last June, the two companies forged a strategic partnership to equip a segment of Capital One Business customers with increased access to accounts payable cash flow management tools for small businesses. Capital One Ventures the financial institution’s corporate venture capital arm also joined Melio’s funding round last year with a strategic investment.
(This story refiles to clarify that Melio is U.S.-Israeli)
(Reporting by Steven Scheer)
