Corporate payment and spend management platform Mesh Payments has secured a $50m capital infusion through a Series B funding round led by Tiger Global.

Entrée Capital, Falcon Edge Capital, as well as current backers TLV Partners and Meron Capital also joined the round.

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The fundraising will support the firm’s growth and expansion of its US business.

The firm also plans to use the proceeds from the round to roll out additional products for finance professionals to manage payments.

Mesh Payments co-founder and CEO Oded Zehavi said: “This is a very exciting time for Mesh as we experience rapid growth with more and more businesses realising the value we provide.

“The latest influx of funds enables us to continue to innovate on solutions that streamline the entire payments process to make operations smoother and faster for finance managers.”

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Mesh’s corporate payments platform enables finance managers to streamline their entire payments. The platform offers customised insights for every payment and has the tools required to optimise spend in real-time.

Its customers include Hippo Insurance, Sezzle, Monday.com, Riskified and Snyk.

Tiger Global partner John Curtius said: “Mesh Payments is an example of a true disruptor — a company whose innovations are transforming an already-established industry.

“We’re proud to support a business that continues to deliver on its ambitions, and we look forward to helping Mesh modernise the payments space even further.”

This week, DiviPay raised $20m in Series A fundraising. Based in Sydney, the firm provides an expense management platform for SMEs.