Fintech startup Melio hires JPMorgan Chase digital payments executive

July 13 (Reuters) – Melio, a New York-dependent startup that features payment instruments for tiny enterprises, has hired Prashant Gandhi, a JPMorgan Chase & Co (JPM.N) controlling director and Chase’s former head of electronic payments, the corporation said.

As chief company officer, Gandhi will be in cost of rising the startup’s business enterprise with economic institutions and software program organizations, Melio stated.

At JPMorgan, Gandhi helped to make a team that managed electronic payment merchandise applied by the bank’s retail and small enterprise consumers.

Prior to joining the U.S.’s biggest bank, Gandhi spent 16 several years at McKinsey & Co, in which he was a lover and aided to launch a new practice known as McKinsey Digital as the worldwide main operating officer.

The transfer arrives amid a world-wide increase in electronic payments volumes, pushed by coronavirus lockdowns which has pushed a lot more business enterprise on line and enhanced demand for electronic payments computer software.

Started in 2018, Melio has lifted $256 million since its inception from buyers, together with Coatue, Accel and Typical Catalyst.

It supplies a absolutely free online payment platform that it suggests aids tiny firms and their suppliers to get and transfer payments quicker and extra very easily.

The firm is on observe to approach tens of billions of pounds of transactions in 2021, it said.

Reporting by Anna Irrera. Editing by Jane Merriman

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