Melio co-founder leaves the Israeli unicorn

Calcalist has learned that Ziv Paz, one of the founders of Israeli unicorn Melio, is stepping away from the company, three years after it was founded. Paz will remain a company co-founder, without an operational role. The full circumstances of Ziv's departure are still unclear, but what is clear is that Melio’s COO, the company's number two, will be leaving.

Fintech company Melio has developed a business-to-business payment platform specifically tailored to the needs of small businesses in the U.S. Its free solution allows for a fast payment transfer between small businesses and their suppliers.

Melio currently employs over 400 people, half of them in Israel and the rest in the company's offices in the U.S. The company was founded in 2018 by Matan Bar, Ilan Atias, and Paz, and has raised $506 million since its inception, reaching a $4 billion valuation during its last fundraising round this past September.

Melio’s said in response to the report: “Melio continues to grow rapidly. For the past year and a half, Melio has focused on building strong leadership with top executives. Now that the company’s management is steady and firm, Ziv, the COO and co-founder, decided it was the best time for him to move on to his next challenge, while the company has solid foundations and of course after he informed his partners and received their blessing. The COO position will be split between different managerial professional positions such as operations, sales, and marketing under the CEO. Ziv will of course remain a co-founder and a friend of his partners. Ziv has played a key role in Melio’s success, making it the fastest-growing small business payment platform in the U.S. We respect his decision and wish him the best in whichever path he chooses."