Melio, a New York City-based startup that helps small businesses transfer and receive payments more efficiently, is headed to the Centennial State.
The company will open its western U.S. headquarters in Colorado and bring 250 new jobs to the state, according to a Tuesday announcement from the Colorado Office of Economic Development and International Trade.
Arizona, Nevada and Texas were also considered for Melio’s expansion, but Colorado was selected due to the state’s centralized location, workforce talent and access to domestic and global markets, according to the company.
“Colorado brings a vibrant small business ecosystem, strong talent pool and strategic geographic benefits that will enable Melio to better connect with our growing user base across the U.S.,” Matan Bar, CEO and co-founder of Melio, said in a statement. “This new office in Colorado, along with our continued expansion in New York, will help Melio on its mission to keep small businesses in business and provide our users with free, simple and secure payment solutions.”
Melio is actively hiring for 41 roles in New York and Denver, ranging from customer success and experience to sales. The average annual wage for sales and service positions in Colorado is projected to be $82,000, according to the announcement.
For a young business, Melio has raised significant capital. The fintech startup launched out of stealth last year with $144 million in funding and raised an additional $110 million in January, securing unicorn status with a valuation of $1.3 billion.
Melio’s decision to open an office in Colorado falls on the heels of Australia-based Finder selecting the Centennial State for its second U.S. hub, and New Zealand-based FileInvite opening its North American headquarters in Denver.
“Colorado is the best place to run or start a business,” Governor Jared Polis said in a statement. “We continue to attract and grow world-class entrepreneurs and workers. These are new jobs that are being created in our backyard and are a strong addition to Colorado’s thriving tech sector.”