JERUSALEM (Reuters) – Melio, an 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 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.
(Reporting by Steven Scheer)