Mesh Payments is a new startup that provides corporate payment solutions for businesses as a Software-as-a-Service platform. It provides cardless payment systems that give clients payment intelligence, control, and exceptional visibility for orchestrating and managing expenses. Additional benefits include tools for reconciliation and reduction of spending. If you're hearing about this company for the first time, you're probably not familiar with its services. Here are 20 things you probably didn't know about Mesh Payments to bring you up to speed.
1. Mesh Payments is a new business
According to Crunchbase, Mesh Payments haven't been in operation for long. They founded the company in 2018 and launched its financial services program the same year. With just three years of operation, Mesh Payments is still in its infancy stage of development, but it has grown and expanded at a rate that surpasses this classification. The growth and success of the company are phenomenal for the short time that it has been up and running. The founders of this organization are Eran Katoni and Oded Zehavi. Its headquarters are in New York.
2. Mesh Payments is a versatile organization
Mesh Payments appear across six industries on the internet. The focus is on providing financial payment solutions for the corporate world. The services it offers cross multiple industry lines. It is foremost a payments company that also provides Mobile Payments and Financial Services. It is also a FinTech company providing SaaS on a B2B platform.
3. Mesh Payments use a complex array of technologies
The Mesh Payments website uses a complicated grouping of technologies. It's necessary to provide users with a smooth and seamless experience when visiting or using the website. The active count is 32 technology products and services. Some of them include iPhone Mobile Compatible, Google Font API, Viewport Meta, and dozens of others. Although the company has not released the annual cost of IT for operation, it's obvious that the overhead expenses for these technologies easily run into the tens of thousands each year. It's the cost of doing business in a tech world.
4. Web traffic volume is increasing for Mesh Payments
The number of monthly visits to the Mesh Payments website is growing. The statistics maintained for the website show that over the last thirty days, the total number of visits was 13,505. This number represents a monthly visits growth rate of 45.72 percent. They ranked it as number 1,109,871 of the millions of websites registered on the world wide web. This shows us that interest in the company is building.
5. Mesh Payments is the most popular in the United States
It makes sense that the highest volume of website visits is from people living in the United States, where it calls home. Eighty-five percent of the visitors come from this country, representing a monthly visits growth rate of a healthy 90.52 percent. Fourteen percent of the web traffic comes from people in Israel with a monthly visits growth rate of 101.85 percent and one percent of the visitors from Canada. These statistics show where the greatest interest in the products and services offered by the business is being shown. The data is useful for strategic planning.
6. Mesh Payments has a small executive leadership team
The executive leadership team for Mesh Payments is small. Eran Katoni is a co-founder and also serves as the chief technology officer. Oded Zehavi is a co-founder and also serves as the chief executive officer for the organization. The head of Human Resources is Rinat Kapuza. Although the group is small, a larger team of executives and various levels of management support them.
7. Mesh Payments has a small board of directors
The board of directors for Mesh Payments is still small so far. It comprises one member. Eitan Beck joined the board as an advisor in December 2020. He is a founder and managing partner at TLV Partners. He has founded one organization and currently sits on six boards of directors in advisory roles. He provides the executive leadership team with his expertise and advice on financial and strategic planning.
8. Mesh Payments is an early-stage venture capital-supported organization
Mesh Payments has taken part in two rounds of venture capital fundraising. The total amount raised so far is $62 million. The most recent round of Series B funding closed on December 14, 2021. Mesh Payments was successful in attracting the attention and support of nine investors. The most recent venture capital firms to join in the fundraising effort include Tiger Global Management and TLV Partners. Other investors include Meron Capital, Entree Capital, Alpha Wave Global, Ryan Gilbert, Philippe Suchet, and R-Squared Ventures.
9. Mesh Payments is a privately held organization
Mesh Payments is still a privately owned company. The founders have chosen not to file for an initial public offering at this time. The company is doing well enough through its private investment platform with venture capital investors tending o the financial requirements for its continued growth and expansion. It's for this reason that you won't find any stocks for sale or trade for this company on any of the public stock exchanges. The company is still in its infancy stages, and so far, there has not been any mention of going public in its immediate future.
10. Investors are accelerating funding efforts
According to Techcrunch, the first round of fundraising for Mesh Payments helped the organization to become established. The first round raised $13 million. With such potential for growth, more investors were happy to come on board and raised an amazing $50 million more in combined efforts. The amount of funding is increasingly reflecting the confidence that investors have in the likely healthy return on their investments.
11. Mesh Payments offers timely services
The timing of Mesh Payments' entry into the FinTech industry couldn't be better. With more companies using online tools to operate and manage their teams, the cardless financial payments platform fits in perfectly to streamline operations in an increasingly technical business environment. The fallout from the Covid-19 pandemic has made it necessary for professionals to interact online in a more contactless world to help prevent the further spread of the disease. This is one of the factors contributing to the recent growth boom in the company over the past nine months. The company has grown tenfold, according to its statistical data. Mesh Payments has declined to share its current valuation at this time.
12. Mesh Payments offers multiple client services
Another reason for the popularity of Mesh Payments as a corporate service is the many services it provides for its clients. It provides them with multiple tools to streamline operations including spend cards, travel expenses, and other useful tools to manage corporate spending. The platform is attractive because of its unique approach to delivering financial services. The name Mesh Payments is descriptive of how it works with existing systems for clients. It meshes well with current software and programs to provide seamless integration that is easy to install and operate.
13. Mesh Payments is highly integrative
The Mesh Payments platform works so well with different software and applications that it offers a money-saving and user-friendly software service. The platform constantly scans the network to assess each purchase to find overlaps with existing purchases to help cut down on excessive spending and wasted resources for its clients. The software program integrates with the policies established by its clients to provide a customized system for every company it serves. It looks at different kinds of spending to provide a tailored experience for the organizations served.
14. Research and Development are high priorities
Building the Software as a Service program offered by Mesh Payments involved a great deal of research and development. The developers considered the various contexts and types of spending required by corporations. They built models for everyday spending as well as for unique scenarios. They realize that every business has its own set of peculiarities and heuristics and that there is no such thing as a one-size-fits-all system for financial payments management. The Mesh Payments system is compatible with hosts of other programs including NetSuite, Xero, GSuite from Google, QuickBooks, Slack, and many others. It connects all of the data from the various programs used by organizations to expose company behavior for the eyes of decision-makers and strategists to offer a more complete picture of how expenses are managed. The insights generated give them tools for making better decisions for the company as a whole.
15. Mesh Payments generates alerts
Another useful feature of the Mesh Payments platform is that it isolates unusual financial activities. For example, if an employee sets up a subscription, the scanning software detects that unusual activity has occurred. The system analyzes the action to determine if it is in line with the protocols for expenditure authorized by the client. It also detects duplicate subscriptions or other expenditures that have been duplicated. It has tremendous potential to catch duplicate expenditures to lower operational costs. It flags purchases of this nature and issues alerts for decision-makers to review.
16. Mesh Payments is a disruptor in the industry
Mesh Payments is considered a disruptor in the FinTech industry and it's only been available for three years. The unique platform provides streamlining services that go over and above that offered by other payment solutions options. Most do not offer unique duplicate flagging or breached protocol alerts. It provides greater financial transparency for organizations that choose to integrate the platform into their existing networks. Mesh Payments is modernizing and changing the financial payments systems for the better with advanced intelligent analysis options.
17. Mesh Payments is currently hiring
According to LinkedIn, Mesh Payments is now hiring. The company has listed eighteen new jobs available. This tells us that the company is going through another growth and expansion phase. It currently lists 58 employees and the addition of 18 new workers will further grow and expand the operations. Most of the open positions are for executives, Jr. executives, and specialists in the Greater New York area.
18. Mesh Payments is also hiring in Israel
Mesh Payments has a hybrid program that it is also expanding. The company is advertising for a hybrid position for a creative director in the Tel Aviv, Israel, area. This shows that it is expanding its operations into international territory. It is an exciting time in the history of the company. Although they've not yet made any official announcements, this is a sign that Mesh Payments has something brewing in the Middle East to prepare for another growth spurt in that direction.
19. The founders of Mesh Payments are from Israel
The Israeli connection for Mesh Payments is with the founders. Oded Zehavi is from the country. He completed his education at The Hebrew University of Jerusalem with a BSc in Computer Science in 1989. Eron Katoni attended the University of Haifa earning his BSc in Computer Science in 2009. he continued his education at Bar-Ilan University earning his MBA in 2013. Both co-founders are from Isreal, but came to the United States to pursue their career interests, launching Mesh Payments. Both have impressive work histories in software development. Mr. Katoni worked for Israeli Military Intelligence before founding Mesh Payments.
20. Mesh Payments is a company to keep your eye on
Although Mesh Payments is still a relatively new company, it isn't acting like one. It's on the move and growing and expanding its product line and areas of operation. Although it is not yet a publicly-traded company, it's still one to keep your eye on. It's already classified as a disruptor in the FinTech industry, while still in its infancy stages of development. We project a bright and sunny outlook for the future of this company and we expect to hear more about it in business news shortly.
Written by Allen Lee
Read more posts by Allen Lee