Melio's solution allows small businesses to quickly transfer and receive payments, cutting down cash flow needs and eliminating bureaucracy.

The funding for the B2B payments platform comes just six months after Balance announced a $5.5 million seed round.

Founded in 2013 by fintech veterans Eyal Shinar, Tomer Michaeli, and Yuval Ariav, Fundbox offers small-business owners data-driven loans to solve cash flow issues