Fiserv’s investment in Melio last month marks another development in the relationship between the two firms. Last year, Melio partnered with Fiserv to integrate its accounts receivable and accounts payable tools into Fiserv’s billing and merchant network, according to the press release. That has allowed Fiserv’s approximately 3,500 financial services customers to offer their SMB clients accounting software for cash flow and payments management.

In addition to tightening its bond to Fiserv, Melio’s recent investment round builds upon its relationship with Shopify. 

Last year, Melio teamed up with Shopify to provide support for Shopify bill pay services, an accounts payable service that enables its merchants to pay and manage their business expenses, the company said in a press release at that time. The collaboration was Melio’s first embedded finance service with a commerce site, according to the announcement. 

As investors have been lining up to pour money into Melio, reports of a potential sale of the company have swirled around it in the media. Last year, Bloomberg reported that the bill-payment firm Bill was in “advance talks” to buy Melio for $1.95 billion, but a top executive at the supposed acquirer denied the rumor.