Tipalti, a B2B Fintech, Raises $270 Million as it Goes Public

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  • Squared led a $270 million Series F financing for Tipalti.3 billion.
  • It is presently the fifteenth-most valued private fintech startup, according to Forbes.

Tipalti, a payments provider, has raised $270 million in a round-headed by G Squared, valuing it at $8.3 billion. According to the firm, its new valuation ranks it among the top 15 most valuable privately held fintech companies in the world.

Tipalti, which is on the verge of becoming a decacorn, automates the accounts payable process for mid-size, high-growth businesses. It addresses issues like tax compliance, supplier onboarding, and currency management with a specialized cloud solution.

Tipalti has maintained current investors Zeev Ventures and Durable Capital Partners for its Series F round, as well as recruited new investors Marshall Wace and Morgan Stanley’s Counterpoint Global Fund. The firm was looking for new investors to help it achieve its IPO goals on the New York Stock Exchange.

So we’re not in any hurry to go public, “says Chen Amit, co-founder, and CEO of Tipalti. The company says it was seeking “crossover investors,” or investors that wanted to invest right before going public, then invest in the IPO, and then continue investing after the IPO to ensure a seamless transition from public to private.

The money will go toward the company’s next virtual and physical card solutions, as well as partnerships with expenditure fine texes like Expensify and Zenworks. Approve.com, a cloud procurement solutions provider, was recently bought by a corporation for an undisclosed sum.

San Mateo, Calif., December 8, 2021/PRNewswire/SAN MATEO, Calif.,

December 8, 2021/PRNewswire/SAN MATEO, Calif., December 8,

2021/PRNewswire/SAN MATEO, Calif., December 8, 2021/PRNewswire/SAN MATEO, Calif., December 8, 2021/PRNewswire/SAN MATEO, Calif., December 8, 2021/PRNewswire/SAN MATEO, CalifTipalti, the leading global payables solution, said today that it has secured $270 million in series F fundraising at an $8.3 billion valuation, bringing the total capital raised to a little over $550 million and putting Tipalti among the world’s most valuable private fintech businesses. The funds will be used to enhance Tipalti’s product roadmap and customer operations, as well as to expand worldwide to alter global financial operations for high-velocity consumers.

The Phase OF round is led by G Squared and includes major investments from new investors Marshall Wace and funds and accounts administered by Counter Argument Global (Morgan Stanley), in addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors, and others.

In the next 18 months, Tipalti will be able to add more to our product lines and capabilities than we have in the previous ten years combined, stated Chen Amit, co-founder, and CEO of Tipalti. “We’re on a mission to improve financial operations, free finance directors from tedious, time-consuming, and dangerous duties, and raise high-velocity firms’ financial skills to match those of the Fortune 5000.”

“We think Tipalti is altering how organizations manage their financial operations,” said Larry Aschebrook, founder and managing partner of G Squared. “Their growth and industry-leading retention rates are proof that they are on a mission to tackle key concerns for their clients.” “Tipalti’s unique solutions, paired with their strategic vision and execution capabilities, establish the firm as a genuine disruptor in the global payables environment.”We see a significant possibility in the target market, which is currently underserved, and we’re excited to collaborate with Tipalti.”

Mid-market enterprises, defined as those with revenues of between $10 million and $1 billion, employ more than one-third of the workforce and account for about 40% of the GDP in the United States alone. The challenges posed by COVID-19 and other macro-developments in the last two years have hastened the transition in how corporations manage their financial operations.

According to a recent Tipalti survey, 99 percent of CFOs said their jobs have gotten more complicated in the last two years, and nearly one-third of CFOs said the international expansion has increased their responsibilities—a shift echoed by 20% of CEOs who said global growth is a top priority for their CFOs. CFOs who manually manage financial operations, on the other hand, are missing out on crucial resources and time that could otherwise be spent growing and executing strategic projects.

Tipalti now handles more than $30 billion in annual payments, a 120 percent increase year over year. The business launched its Series E round in October, raising $150 million at a $2 billion valuation. This year, it added new integrations with complimentary financial tech stack providers, such as the acquisition and integration of cloud procurement solutions provider Approve.com, enhanced multi-entity AP capabilities, cards, and mobile devices, and added new integrations with complementary financial tech stack providers. Tipalti also surpassed 2,000 customers, launched additional offices in London, the United Kingdom, Plano, Texas, and Toronto, Ontario, and now employs over 700 people globally.

Europe is the center of attention.

The firm, which was formed in the United States, opened a new office in London in October and plans to increase its staff in the UK from 40 to 100 in the coming year. Tipalti already has offices in Canada, Israel, and the Netherlands, but there are no plans to open an office in the APAC area at this time.

“I believe we must first perfect the EU and the UK, and then, once we perceive that we are on the correct route, we can begin investigating APAC,” Amit remarked.

About Tipalti

When digital networks lacked the capability to coordinate huge payments to worldwide partners, Tipalti saved them time and helped them avoid employing extra payment workers by designing a platform that automates this complex challenge.

We rapidly realized that our technique might assist more than just digital networks. Every expanding company requires an intelligent, comprehensive solution to remove payables friction, whether they have an invoice-based process or a digital business model. That is why we have come.

Tipalti is a Hebrew word that means “We took care of it.” Accounts Payable and Mass Pay workflows for high-speed companies across the entire financial operations cycle, including onboarding and managing global suppliers, implementing procurement controls, streamlining invoice processing and approvals, executing payments around the world, and reconciling payables data across a multi-subsidiary finance organization.

Tipalti makes payables strategic with operational, regulatory, and financial controls, allowing high-growth organizations to scale swiftly. In minutes, companies can pay thousands of partners and vendors in 196 countries effectively and securely. Tipalti is used by thousands of businesses, including Amazon, Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter, to reduce operational effort by 80% and accelerate financial close by 25%, all while improving financial controls and spending visibility.

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Tipalti is now available in the United Kingdom.

TrustRadius’ 2021 Best of Finance Software for Accounts Payable.

Over 600 workers were reached.

The award for the best workplace in the Bay Area in 2021 will be given by Fortune.

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