20VC: Scaling to a $1.3Bn Valuation While in Stealth, The Power of Different Network Effects Within Payment Platforms & How To Leverage Your Board and Investor Base for the Most Value with Matan Bar, Founder & CEO @ Melio

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 11 February 2021

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Matan Bar is the Co-Founder & CEO @ Melio, the company that provides the simplest way to pay vendors and contractors. To date, Matan has raised over $254M for Melio from the likes of Accel, Bessemer, Aleph, Coatue and General Catalyst to name a few. Prior to founding Melio, Matan Bar was Head of PayPal Consumer Product Center and before that was a Head of Product and GM @ eBay in their Israel Innovation Center.

In Today’s Episode You Will Learn:

1.) How Matan Bar made his way into the world of startups and came to found one of the fastest-growing companies today in the form of Melio?

2.) What is the single most important thing in a financial transaction business? How does Matan think about the balance between optimising for transaction volume vs revenue? What does Matan believe are the core network effects within payments businesses? Why do most opt for closed network effects? How is Melio different?

3.) What have been some of the biggest challenges of adding 170 people in one year? What breaks first? What needs to be in place to ensure the culture can scale with the headcount? How does Matan structure the leadership team to manage this hyper-growth? Has Matan struggled with self-doubt in his leadership during this hyper-growth?

4.) What specifically has Melio and Matan done to achieve a 49% female to male ratio within the company? What works when it comes to implementing diversity at scale? Where do so many people make mistakes? What specific strateies have allowed Melio to hire some of the best female engineers?

5.) How does Matan most like to interact with his board? How does he determine the advice to ingest vs the advice to reject? What have been some of his biggest lessons when it comes to successful board management? Where do many first time founders make mistakes when it comes to investor value add and extraction?

Item’s Mentioned In Today’s Episode

Matan’s Favourite Book: The Unbanking Of America: How the New Middle Class Survives

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Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Transcript

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0:00.0	Welcome back. This is 20VC with me, Harry Stebbings, and on Monday we release this incredible
0:03.9	episode with Michael Eisenberg at Aleph. It's really one of my favorites, and so if you haven't
0:07.8	checked out, it really is a must. But in the episode, he discusses his seed investment in Melio,
0:12.6	one of the fastest growing companies of our time, and recently becoming a unicorn. And so with
0:16.9	that, I just thought I have to have the Melio founder on the show. And so I'm thrilled to welcome Matan Barr, co-founder and CEO at Melio, the company that provides
0:24.4	the simplest way to pay vendors and contractors.
0:27.1	To date, Matan has raised over 254 million for Milo from the likes of Excel, Bessemer, Aleph,
0:33.2	Co2 and General Catalyst, to name a few.
0:35.7	Prior to founding Milio, Matam was head of PayPal Consumer
0:38.3	Product Center, and before that was a head of product and GM at eBay in their Israel Innovation
0:43.0	Center. I'd also, though, want to say huge thank you. This schedule was a big team effort from
0:47.0	Julian Beck at Excel, Michael at Aleph and Michael at Kotu. Huge thanks for that, and really did
0:52.1	mean a lot to have your help there. But before we dive into the show state, did you know that more than 80% of US public stock
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	...

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